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Uniphar to begin trading on AIM on 17 July with estimated £279mln market cap

The Irish pharmaceuticals wholesaler has also raised around £121.4mln (€135mln) in a share placing ahead of the float

Pharmaceuticals
Uniphar sells drugs to hospitals, pharmacies and clinics

Irish firm Uniphar PLC is to be admitted to AIM on 17 July with an expected market cap of around £279mln (€310mln).

The group, which distributes pre-wholesale and wholesale pharmaceuticals to hospitals, pharmacies and clinics, said it had also raised £121.4mln (€135mln) by issuing 117.4mln shares at a price of 103p (€1.15) each.

READ: Uniphar unveils plans for AIM float in July

The proceeds of the placing are to be used to fund the acquisition of Durbin, a specialist supplier of pharmaceuticals with offices in the UK and the US, as well as for general working capital and paying fees associated with the group’s initial public offering (IPO).

Maurice Pratt, Uniphar’s chairman, said that the level of interest from institutional investors for the IPO gave the company “great confidence” in its next phase of growth as a public company.

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