Biofarm leaves RASDAQ for BSE

At the end of this month, shareholders of the drug producer Biofarm Bucharest are set to discuss the listing of the company on the first tier of the Bucharest Stock Exchange (BSE). At the moment Biofarm is traded on the RASDAQ. The move would make Biofarm the third leading drug producer on the BSE after Sicomed and Antibiotice. Shareholders recently endorsed the repurchasing of up to 1% in the company from the RASDAQ, with the shares redeemed in this way to be transferred to company employees. When contacted by Ziarul Financiar Biofarm officials declined to comment on the news. The company's most important shareholder is Health Sciences Group, which owns 24.3%. SIF Oltenia, Robert William Ferran and Shapiro Bancorp each hold further stakes of around 10%, according to the latest available data. The remaining 45% is owned by other shareholders. The shareholder structure of Biofarm Bucharest changed significantly following recent market transactions, with the most significant change being the reduction of the stake owned by the company's chairman of the board, Robert Ferran, from 49.9% to 10%. ZF