Biofarm invests 20% more than its profit in SIFs

Biofarm’s balance sheet for the first three quarters indicated it had RON 18.67 mln (€5.38 mln) in cash and accounts. Since November, the company acquired 2.1 million SIF Oltenia shares, worth €2.45 mln, while its SIF Moldova shares cost €1.1 mln.

Biofarm Bucuresti is part of a consortium with the SIFS wich intends to acquire pharmaceutical producer Antibiotice Iasi. Biofarm increased its share capital by RON 39.07 mln (€11.16 mln) to RON 97.75 mln (€27.9 mln), some €1.2 mln below the value initially scheduled. Its shares on Friday’s Bucharest Stock Exchange session rose by 0.83 percent, with the company’s capitalization reaching €102.2 mln.

According to latest reports, Biofarm’s main shareholder is SIF Oltenia, with 15.09 percent, while SIF Moldova has 10.98 percent, and SIF Banat-Crişana 10 percent. The Authority for State Assets Recovery (AVAS) owns 1 percent of Biofarm’s shares.