Shares in EUROAPI, spun-off from Sanofi, rise on stock market debut
06/05/2022 08:05
PARIS, May 6 (Reuters) - Shares in EUROAPI EAPI.PA , the
drug ingredients business being spun-off by Sanofi SASY.PA ,
rose on Friday as the company made its debut on the Paris stock
market.
EUROAPI traded at around 12.55 euros in early session
trading, marking a rise versus its reference price of 12 euros.
Sanofi shareholders will receive one EUROAPI share for 23
shares held in the parent company, and Sanofi plans to keep a
30% stake in EUROAPI. urn:newsml:reuters.com:*:nL5N2VZ0UB
The stock market flotation of EUROAPI comes as the
coronavirus pandemic and Russia's attack on Ukraine have
heightened concerns in the European Union over the region's
dependency on critical pharma ingredient imports.
EUROAPI makes active pharmaceutical ingredients (APIs) for
medicines and draws on six production sites in Italy, Germany,
Britain, France and Hungary.
(Reporting by Ludwig Burger;
Editing by Sudip Kar-Gupta)
((sudip.kargupta@thomsonreuters.com; +33 1 49 49 53 84;))