The Moscow Exchange has listed Genetico’s shares (Genetics and Reproductive Medicine Center, MOEX: GECO) in the Innovation and Investment Market (IIM) sector, the exchange sector for high-tech companies with significant growth potential. Its main task is to promote investment in companies in the innovative sector of the Russian economy.
Today, on April 25, 2023, Genetico is conducting an IPO on the Moscow Exchange. The company will offer 10 million shares to investors at RUB 17.88 per share. The minimum lot is 10 shares. Applications for the purchase of shares will be accepted on the Moscow Exchange from 10 to 12 AM, starting from April 25. However, orders will only be taken until the issue is completed. Trading on the secondary market will begin on April 26, 2023.
The first offering in the IIM sector was the IPO of the Human Stem Cell Institute (HSCI, MOEX: ISKJ) in 2009. Currently, securities of 21 companies are traded in the IIM sector. Half of them are IT companies, as well as manufacturers of aviation, space, oil and gas equipment, and optical electronic systems. Medical technologies and biotechnologies are represented by: HSCI, Pharmsintez, International Medical Center for Processing and Cryostorage of Biomaterials (IMCB, MOEX: GEMA).
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.