Gen İlaç Applies for IPO
Domestic pharmaceutical manufacturer Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. has applied to the Capital Markets Board (SPK) for an initial public offering.
Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş. (GEN) has applied to the SPK for approval of the prospectus relating to the public offering of company shares. In a statement by Gen İlaç ve Sağlık Ürünleri Sanayi ve Ticaret A.Ş., it was noted that the public offering of company shares will employ both capital increase and secondary sale methods. The public offering, to be led by OYAK Yatırım, will have a public float ratio of 20.83%, and if the greenshoe option is exercised, this ratio will increase to 22.92%. In the public offering planned to be conducted using the Fixed Price with Bookbuilding method, subscription rights of all existing shareholders will be restricted and shares to be publicly offered through a paid capital increase will have a nominal value of TRY 50 million. This amount constitutes approximately 80% of the total public offering. The nominal value of shares to be publicly offered within the scope of GEN's existing secondary sale is TRY 12.5 million. The nominal value of GEN's total publicly offered shares is TRY 62,500,000, and in case of excess demand, shares with a nominal value of TRY 6.3 million under the secondary sale will be added to the public offering amount. If the greenshoe option is exercised, shares with a total nominal value of TRY 68,750,000 will be publicly offered.GEN EXPANDS GLOBAL PRESENCE
Under the slogan 'The Future is GEN's Future', GEN has established a solid position in the Turkish pharmaceutical sector for 23 years with innovative products and solutions addressing unmet healthcare needs, rare diseases and specialized treatment areas. With its domestic production capacity, investments and innovations brought to the sector, GEN is inviting Turkey towards the future. Recording steady and rapid growth since its establishment, GEN serves healthcare stakeholders with its GMP-certified production facility built on 40,000 m² in Ankara, R&D center, a specialist workforce of 500 globally and 20 partners from 10 different countries. In addition to its R&D center accredited by the Ministry of Industry and Technology in 2019, GEN incorporated Elixir İlaç Araştırma ve Geliştirme, located in Hacettepe Technopark, gaining significant momentum in producing innovative solutions. Based in Ankara with offices in Istanbul, Izmir, Trabzon, Azerbaijan and Kazakhstan, the company added Russia, Germany and Uzbekistan to its global offices, successfully completing 2020, a challenging year, with new and bold steps. RARE SOLUTIONS FOR HEALTHCARE NEEDS! Taking on the role of Turkey's rare solutions company, GEN offers bold solutions to unmet healthcare needs through sector investments. GEN provides services with its products used in the treatment of rare diseases and the resolution of functional disorders resulting from these diseases, particularly in neurology, oncology, metabolism and pediatric specialties, as well as in hematology, endocrinology and nephrology. As the only domestic pharmaceutical company member of the Research-Based Pharmaceutical Companies Association (AİFD), GEN maintains its sectoral distinction and has signed an agreement with Sulfateq, a Netherlands-based pharmaceutical company, to develop an innovative treatment for Alzheimer's disease, a globally unresolved health issue. GEN has also signed a partnership agreement with Orchard Therapeutics to provide access to gene therapy for those in need in certain specialized disease areas.Advertisement
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