Dragos Dinu, age 40, chief executive of the largest pharmaceutical retail and distribution group on the domestic market, A&D Pharma (which comprises Mediplus distributor and the Sensiblu drugstore chain) has become one of the richest executives in Romania after being granted a stake in the company.
According to information in a report issued by the ING London investment bank, Dinu received 2.23 percent of the group, which is worth approximately 9.05 million euros at the current trading price.
Last year, A&D Pharma was floated on the London Stock Exchange, following an initial public offering during which 34 percent of shares were sold on foreign markets, while the shareholders managed to raise more than 130 million euros.
Three more A&D Pharma management members received a total of 7 percent in shares before the listing: Florin Buligoanea, chief financial officer, who owns 2.23 percent (9.05 million euros), Vivian Diaconescu, general manager of the distributor, 1.91 percent (7.75 million euros) and Claudiu Opran, the general manager of Sensiblu, 0.63 percent (2.5 million euros).
Yesterday, the representatives of A&D Pharma verified for ZF that the management of the company had indeed received 7 percent of the shares of the group. This stake is now worth around 30 million euros.
Both the pre-IPO shareholders and the company management are subject to a 360-day lock-up period following the initial public offering, according to information on the market.
The latest trading price for A&D Pharma was 12.2 euros for one GDR (one GDR is the equivalent of six ordinary shares), so that the company's value stands at 406 million euros.
The majority shareholder of A&D Pharma is an investment vehicle - Sograno - an entity registered in the Netherlands. Sograno BV remained A&D's majority shareholder after the listing. Sograno is indirectly o
