PARIS (Agefi-Dow Jones)–The producer of active pharmaceutical ingredients (API) Euroapi, resulting from the split of the pharmaceutical group Sanofi, is moving up sharply on Friday for its first steps on the Paris Stock Exchange.
Around 1:40 p.m., the Euroapi share price stood at 12.61 euros, an increase of 5% compared to the technical reference price of 12 euros defined by Euronext on Thursday evening.
At the current price, the market capitalization of the group is approximately 1.2 billion euros. According to Euronext, Euroapi is the twelfth company to join the Paris Stock Exchange this year.
“The listing of Euroapi marks an exciting step for the development of Euroapi which will allow us to consolidate our leading position in the dynamic API market”, declared Karl Rotthier, the group’s managing director, quoted in a press release.
“By developing as an independent company, Euroapi will gain flexibility and growth opportunities to strengthen its status as the partner of choice for all pharmaceutical and biotechnology companies”, he continued.
Euroapi said in a statement that Sanofi had confirmed its intention to retain around 30% of the company’s capital and voting rights. EPIC Bpifrance, acting on behalf of the French State, will hold 12% of the capital of Euroapi and the cosmetics group L’Oréal, reference shareholder of Sanofi, approximately 5%.
Euroapi achieved in 2021 a turnover of around 900 million euros. The group markets its APIs to 500 customers in more than 80 countries.
-Julien Marion, Agefi-Dow Jones; +33 (0)1 41 27 47 94; [email protected] ed: LBO
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May 06, 2022 07:48 ET (11:48 GMT)