Romanian pharma producer Biofarm to buy back 10% of its shares

Romanian pharmaceutical company Biofarm Bucuresti will buy back 10% of its own shares via a public offer on the Bucharest Stock Exchange. The buyback price is RON 0.305 per share and the total value of the offer is EUR 7.5 million. The offer starts on August 26 and ends on September 15 and will be managed by local brokerage firm Swiss Capital. The company’s shares gained 6% on Thursday, August 21, following the announcement, closing the trading session at RON 0.298. The company has a total market value of EUR 74 million. Its main shareholders are three Romanian investment funds, SIF Muntenia, SIF Banat-Crisana and SIF Moldova, which hold together 87% of the company’s shares. editor@romania-insider.com