PRAGUE, Czech Republic, June 7 (UPI) -- Czech pharmaceuticals company Zentiva kicked off a series of road shows Monday for an initial public offering that could raise up to $200 million.
At a presentation in Prague to mark the start of the road show, Merrill Lynch & Co., the global lead manager, said the price range for the the shares would be 400 to 525 Czech crowns ($15.58-$20.45). Implied equity market value of the company was put at between $621 million and $764 million.
The deal will be the first IPO on the Prague stock exchange and Czech officials hope it will signal a new faith in the long-suffering Czech capital markets.
Mass corruption in the 1990s, a poor regulatory framework and a lack of corporate transparency have long acted as a deterrent to investors on the Czech market.
Zentiva bills itself as a company of a new generation and prides itself on the transparency of its operations and a modern style of management.
The company is the leading generic pharmaceuticals company in the Czech and Slovak Republics and is heavily focused on firming up its position in Poland and Russia.
