Laboratorios Richmond, a leading pharmaceutical company and one of the main suppliers of oncological and HIV drugs in Argentina, received more than 1,800 orders for an amount greater than $ 658 MILLION, and will start trading on the Buenos Aires Stock Exchange. The transaction was led by Puente as an organizer and placement agent, together BST (Services and Transactions Bank) that acted as co-placer.
"We are the first Argentine pharmaceutical laboratory to quote. Until now, a local and international investors did not have the option of investing in a company in this sector and we are giving them this tool, so that they can diversify by investing in an industry where until now they couldn´t. This unique opportunity is reflected in the large number of institutional and retail investors who have trusted in Richmond; we have received more than 1,800 orders from investors for a total amount of $ 658 million, and the Company has decided to take orders of up to 17.5% of its capital, with which we will be capitalizing Richmond for $ 524 MILLION " declared Marcelo Figueiras, President of the company.
For his part, Juan Manuel Artola -CEO of the company- explained that "the objective of this operation is to expand Richmond's business in Latin America, strengthening, on one hand, the existing subsidiaries in Mexico, Colombia, Peru, Chile and Paraguay, and expanding production and investment capacity in new technologies development, on the other. In addition, the laboratory evaluates to acquire possible operations in Mexico and Peru. "
With more than 80 years of experience, Laboratorios Richmond is integrated by a staff of more than 350 people in Argentina, of which about 50% works in research and development, quality control, production and engineering areas.
The Company has more than 70 products which are marketed in the country and 350 marketing authorizations abroad, which correspond to the most varied specialties that make up the range of products that the company puts at disposal of physicians, pharmacists, health institutions and patients.