The company has not yet decided the amount of the operation
Pharma Mar announced on Friday that it plans to make a capital increase to start trading in the United States. The company had already said four years ago that it was considering the possibility of applying for a quotation in that market, although at that time it did not indicate that the chosen route would be a capital increase without preferential subscription rights for the current shareholders. The company has not yet decided the amount of the operation.
Pharma Mar has already taken the first step to its leap to the American market. The company announced this Friday to the National Securities Market Commission that it has confidentially submitted a draft registration document in accordance with Form F-1 before the Securities and Exchange Commission (SEC), although it is not yet effective.
Your intention to trade on the US Stock Exchange with a registered offer of 'American Depositary Shares' (ADS) representative of your shares. The company has indicated that this fact was already advanced as one of the main elements of the strategy for the merger with Zeltia in December 2014, although it was not said that the exit to the US market would be through a capital increase.
The timetable and terms of the proposed offer have not yet been determined, according to Pharma Mar, whose capital increase must be approved by the board of directors within the limits of the general meeting delegation.
