Ozon Pharmaceutics opened a book of applications within the framework of SPO
Ozone Pharmaceuticals announced the collection of applications to participate in the secondary placement of shares. Since the beginning of 2025, this is the first SPO regarding an unlimited circle of investors. The market situation clearly does not contribute to the placement of shares: the Moscow Exchange index is at the level of the beginning of the year, and investors prefer deposits. But the shares of the « ozone of pharmaceuticals » added 13% from the beginning of the year, and participants in the stock market are expecting high demand for new shares.
One of the largest Russian pharmaceutical companies Ozon Pharmaceutics opened a book of applications on the secondary placement of shares on June 17. This year this was the first SPO organized by open subscription, that is, for an unlimited circle of investors. Earlier this year, SPO conducted two companies-Abrau-Durso (in April) of Segezha Group (in early June)-however, the placement of shares took place in a closed subscription.
The placement of the Ozon Pharma can be from 55 million to 82 million shares (5–7.5%) belonging to the founder of the company and the chairman of the board of directors Pavel Alekseenko.
In the future, he will acquire shares issued by closed subscription. As a result, his share in the “Ozon Farm” will not change, and the proceeds (up to 4 billion rubles) will go to the company. The share of shares in free circulation can increase to 15.3%.
The price of shares will be determined on June 20 after the formation of the book of applications, but previously it is set in the amount of not higher than 48 rubles. Prior to the announcement of the placement, the shares were traded near 49 rubles, however, the beginning of secondary placement led to a sharp decrease in quotations. During trading on the Moscow Exchange, the cost of shares fell to 46.3 rubles, and the price was 46.75 rubles, 4% lower than the closure of the previous day at the closure of the main session. However, it is higher by 34% of the price of the IPO in the fall of last year (See “Kommersant” dated October 18, 2024).
« Ozone Pharmaceuticals » It was founded in 2001, is engaged in the production of drugs, including for the treatment of cancer and autoimmune diseases. Pure revenue in IFRS for 2024 – 25.56 billion rubles, 30% higher than the previous year. Net profit increased by 15% and reached 4.6 billion rubles.
Reducing the quotes after the issuer about the placement of new shares is a typical event, the market participants note. The emergence of new shares always leads to the erosion of the shares of current shareholders and increases the supply in the market of paper, which also reduces the price (See “Kommersant” from April 23). In addition, the current situation of the stock market does not really contribute to the placement of shares. The index of the Moscow Exchange lasts the last days below the level of 2800 points, that is, near the values of the beginning of the year. As noted by Leonid Pavlikov, the managing director of the finama joint-stock capital, the aggressive monetary policy of the Central Bank reduces the activity of investors.
At the same time, in four large management companies surveyed by Kommersant, portfolio managers are ready to participate in SPO Ozon Pharmaceuticals. Moreover, in one company they are counting on an additional discount, while in the other three they are ready to participate at current prices. In another Criminal Code, they said that they were not ready to participate, but from the point of view of portfolio investments, placement can be interesting at a discount of 15%. « » Ozon Pharma « very well spent an IPO. Despite the placement along the upper border, the company was evaluated quite cheaply and made it earned to those who participated in the primary transaction. And now he does SPO with a discount, ”said Kommersant’s interlocutor. A similar strategy was the Astra Group, which six months after the IPO (see “Kommersant” dated October 17, 2023) conducted secondary placement of shares at a higher price.
Brokers also expect high demand. According to the investment strategist “VTB My Investments” by Stanislav Kleshchev, the greatest activity should be expected by retail investors, who bought more than half of the shares within the framework of an IPO. “The company shares have shown noticeable growth as from the moment of IPO (by 34%. « Kommersant »), and from the beginning of the current year (by 13%. « Kommersant »). This is probably explained by the company’s readiness to conduct SPO and attract new capital, ”he notes. According to Yuri Azargaev, the leading investment consultant of the Gazprombank Investment service, the shares will become especially attractive for investors if the company manages to fulfill the plan to increase the revenue by 25%.
