Countdown for A&D Pharma: the 1bn-euro capitalisation, still mission impossible

A&D Pharma, Romania's biggest pharmaceutical group, is putting an end to its listing on the London Stock Exchange, with tomorrow as the last day when the company's shares will be traded in form of GDRs on Europe's biggest capital market.

After four years and several months of trying its luck in London, the low liquidity has prompted the management to suspend the company from trading so that it "should use the time and financial resources to boost the business".

"The last day when GDRs can be traded is March 2, 2011, and March 3, 2011 is the effective date of delisting," said A&D Pharma representatives. Originally, the last day of trading had been announced for February 28, but the process was delayed.

In 2006, in full economic boom, the floatation of A&D Pharma, handled by ING, was seen as a benchmark, so that RCS&RDS telecom operator announced a similar move, but plans were later dropped.