01/11/2005 Hikma Pharmaceuticals plc opens the London Market
Hikma Pharmaceuticals plc opens the London Market
1 November 2005
Hikma is a multinational pharmaceutical group focused on developing, manufacturing and marketing a broad range of both branded and non-branded generic and in-licensed pharmaceutical products. Hikma, which is Arabic for wisdom, was founded in 1978 by the current Chief Executive Officer, Mr. Samih Darwazah, and is the third major company from the Middle East to join our markets since September.
Hikma has raised approximately £70 million through the global offer comprising approximately 24.1 million New Shares. Based on the offer price of 290 pence per Ordinary Share, the Company’s market capitalisation at admission will be approximately £483.0 million. The Company intends to use the net proceeds principally to pay down outstanding debt and to expand its manufacturing facilities in Jordan, Portugal and Italy.
Mr Samih Darwazah, Chief Executive Officer of Hikma Pharmaceuticals plc commented:
“We are delighted with the strong levels of interest and participation in the Offer from investors. Listing in London has given us access to a sophisticated, international investor base and we are looking forward to continuing to grow shareholder value in Hikma Pharmaceuticals”.
Today, Hikma is an international pharmaceutical company conducting operations through three businesses: Generic Pharmaceuticals, Branded Pharmaceuticals and Injectable Pharmaceuticals. The Company sells 113 branded and non-branded generic pharmaceutical products in 34 countries worldwide together with 25 pharmaceutical products under license in the MENA region from 13 originator pharmaceutical companies. The majority of Hikma’s operations are in the United States, the Middle East and North Africa (“MENA”) Region and Europe. Based on IMS sales, Hikma is the second largest generic pharmaceutical company in Algeria, the fourth largest generic pharmaceutical company in Saudi Arabia and the second largest generic pharmaceutical company in Jordan.