Pharmstandard Subsidiary Purchased Ordinary Shares of Holding Company
OREANDA-NEWS. June 27, 2012. OJSC Pharmstandard (LSE: PHST LI, MICEX-RTS: PHST RU) announces the purchase of ordinary shares of the holding Company by its subsidiary OJSC Pharmstandard-Leksredstva.
Subsidiary OJSC Pharmstandard-Leksredstva purchased 765,000 ordinary shares representing about 2.02% of the equity capital of OJSC Pharmstandard at market price.
On completion of the purchase, subsidiary OJSC Pharmstandard-Leksredstva owns 2,589,750 ordinary shares or 6,85% of the equity capital of OJSC Pharmstandard. The purchased shares may be used by the group of companies Pharmstandard in merger and acquisition deals in line with the general development strategy of the group of companies Pharmstandard.