Hungaropharma privatization tender

Hungaropharmaprivatization tender

APV Rt, Hungary's state privatization company, is to invite tenders for the part sale of the drug wholesaler Hungaropharma Rt, which currently controls a third of the domestic market, reports New Europe.

APV will issue an initial public offering for a quarter plus one vote of Hungaropharma to small and institutional domestics and foreign invstors. The second phase will consist of allowing workers, managers and domestic pharmacists to buy a further 25% minus two votes of the wholesaler. Last year, the firm produced a pretax profit of 328 million forint ($1.1 millon).