Genetico (Genetics and Reproductive Medicine Center, MOEX: GECO) held an IPO on the Moscow Exchange, offering all of its shares. The order book was oversubscribed 2.5 times, the total demand was over RUB 439 million.
The company offered 10 million shares of RUB 17.88 each and raised RUB 178.8 million, its market capitalization as of the offering date was RUB 1.48 billion.
To fulfill the maximum number of orders, all orders were fulfilled by at least 30% and orders of up to RUB 100 thousand were fulfilled in full.
Trading on the secondary market will begin on April 26, 2023.
The offering was organized by ALOR with IVA Partners as the co-organizer.
Genetico Center is a resident of Skolkovo, the Medtech Moscow Technopark of the Moscow Center for Innovative Technologies in Healthcare, a subsidiary of the Human Stem Cell Institute (HSCI— MOEX: ISKJ). The company works in the field of medical genetics and genetic research, implementing into medical practice innovative solutions for the diagnosis, prevention, and treatment of genetic and socially significant diseases.
Genetico plans to use the funds raised during its IPO to develop genetic services in Russia, enter foreign markets, register its own test kits, as well as create candidate gene therapy drugs for the treatment of orphan diseases.