LEСAP together with LCPIS became an advisors for the IPO of PROMOMEDPJSC
The company received a high valuation thanks to its record EV/ and raised RUB 6 billion in capital through its IPO
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On July 12, the Moscow Exchange traded ordinary shares of PJSC PROMOMED, the first pharmaceutical company on the ECM market engaged in research and development in the field of biotechnology. The placement volume amounted to 6 billion rubles. Dmitry Rumyantsev, Partner and Director of LCPIS, led the project at all its stages.
LECAP provided comprehensive legal support for the debut issue of the company's shares, including issuance documentation, legal documentation (lock-up deeds, agreements with brokers), as well as a guideline for media publications and analysts' work.
LCPIS rendered comprehensive assistance to the issuer in building the investment case and assessing the company's value, taking full responsibility for determining the company's positioning in the market, working out the investment thesis and financial model, coordinating and adjusting marketing materials, working with IR and analysts. As a result, the company managed to achieve a record EV/EBITDA multiple and attract the attention of at least 10 high-quality institutional investors in a declining market.
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