Zentiva starts the procedure for the withdrawal of minority shareholders from the company

The Financial Supervisory Authority (ASF) gave the green light to the approach of the Czechs from Zentiva Grup regarding the withdrawal of the minority shareholders from Zentiva SA, according to a report of the market supervisor published yesterday on the website of the Bucharest Stock Exchange (BVB).

In time, Zentiva Grup came to own about 96% of the drug manufacturer, so that the minority shareholders represent 4%, the withdrawal price for them being 4.5134 lei per share. The company is to be delisted from the BSE.

"Zentiva Bucharest shares will be suspended from trading starting from the third working day from the date of publication of the announcement", the BVB report states, which means that the measure comes into effect from Tuesday, November 19.

The group managed to exceed the 95% threshold in July 2019, following a capital increase. Previously, Zentiva Grup had made a public mandatory takeover offer, but the subscriptions were very low, because among the remaining shareholders there are many who were appropriated through the Mass Privatization Program, the so-called "couponaries", at the former Sicomed (currently Zentiva). Some of them are no longer there, others have not done the succession or do not know that they have shares.

For the first half of the year, Zentiva SA reported a net turnover of 551 million lei, 22% above that of the first six months of 2023, while the net profit amounted to 143 million lei, almost double compared to of 72 million lei, from the first semester of last year. The stock market valuation of the medicine manufacturer from Bucharest amounts to 2.8 billion lei.