Poland's Bioton plans to raise 54.4 mln zlotys from new share issue

WARSAW (Thomson Financial) - Poland's biopharmaceutical company Bioton plans to raise up to 54.4 mln zlotys from a share issue as it seeks cash for new investments, the company said in a statement.

The issue, which will raise the company's share capital by almost 10 pct, will be directed to 'qualified investors,' Bioton said. The book-building for the issue will take place between Dec 17 and 19.

In October, Bioton agreed to pay 35 mln usd in cash and new shares for a stake in a joint-venture with a group of human insulin producers and distributors in India, Finland and Russia.

Source:By Piotr Skolimowski, forbes.com