IPO of PAO PROMOMED on the Moscow Exchange
2024
IPO AND PRE-IPO
key aspects
LECAP acted as legal counsel to PAO PROMOMED in connection with its IPO on the Moscow Exchange amid extreme market volatility and significant retail investor interest in preferential rights. The placement volume amounted to RUB 6 billion.
We prepared the company for the IPO over three years: we built the corporate structure, corporate governance, positioning, participated in the preparation of the financial model, and supported the IPO at every stage, including the preparation of the issuance and contractual documentation.
As a result, the company was able to achieve a record EV/EBITDA multiple and attract the attention of at least 10 high-quality institutional investors in a declining market environment.
We prepared the company for the IPO over three years: we built the corporate structure, corporate governance, positioning, participated in the preparation of the financial model, and supported the IPO at every stage, including the preparation of the issuance and contractual documentation.
As a result, the company was able to achieve a record EV/EBITDA multiple and attract the attention of at least 10 high-quality institutional investors in a declining market environment.
The first IPO of an innovative biopharmaceutical company engaged in biotechnology research and development on the Russian market
Case highlights
Project features that required an individual approach and non-standard solutions
High valuation of the company.
A record EV/EBITDA multiple at the time of placement, achieved through careful work on the investment case and the core financial model provided by the issuer.
A large-scale PR campaign for the issuer involving public figures at the federal level.
Ecosystem companies,
involved in the transaction
More detailsinvolved in the transaction
Key product modules used in implementing the project
All products
