Sanofi Aventis, majority shareholder of Zentiva Romania (ticker: SCD), added 825,500 shares to its majority holding in the company it owns, after drawing as little as 3.4% of the share capital in the initial public offering.
After paying 2.24 million lei (€0.51 million) on November 16 for 0.77% of Zentiva, the majority shareholder acquired another 0.20% interest.
The median price paid by the drug maker for the 825,000 shares was 0.7lei/share, similar to the IPO price, transactions totaling 596,742 lei (€139,400). Sanofi Aventis’ stake in Zentiva has thus increased to 79.28%.
French-based drug maker reported a profit of 3.21 million lei (€0.76 million) for the three quarters ending September 30, 7 times lower than the same period of last year, which indicates a 5.33 million lei loss in the third quarter 2009.
Zentiva has a share capital of 41.69 million lei, divided into 416.9 million shares at a face value of 0.1lei.
The company’s current market value is 291.87million lei (€68 million), according to Friday’s closing quote of 0.7lei/share.
