The trading with Tchaikapharma’s shares starts at BGN 4.26/share (NEUTRAL)

The trading with the shares of local pharmaceuticals company Tchaikapharma started on BSE-Sofia yesterday at price of BGN 4.26/share. In April the Financial Supervision Commission approved the prospectus for listing of 43.5m shares of Tchaikapharma with par value of BGN 1. Tchaikapharma is a generic pharmaceutical company with 2013 revenue of BGN 25.8m and net profit of BGN 6.2m. Total assets of the company as of end-2013 amounted to BGN 71.1m while book value of equity was BGN 49.9m.