Swedish drug company Pharmacia, which is currently touring 20 cities on its roadshow for its global privatization offering, was in London last week. The Swedish government is offering up to 72 million A shares of the total 98.2 million A shares it holds. The government also holds just under 17 million B shares. There will be 32 million shares available for the international offering, including 10 million to be available in the USA, and 40 million for the Swedish public offering, with the proviso that the international offering can be reduced by 7.5 million shares in order to increase the Swedish allocation.
Retail applications for shares started on June 1 and ended June 10, and the final size of the offering will be determined on June 16. This and the offering price is expected to be announced on June 17.
Speaking about the government's privatization of the company in London last week, Jan Eckberg, chief executive of Pharmacia, said: "we are very pleased to have reached this point as we have been living with uncertainties in structure for the past two years." He said that it is important for a company to have stability in its shareholding, strategy and management.
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