July 12, 2019 / 6:39 AM / 4 months ago

Irish pharma group Uniphar raises 150 million euros in IPO

DUBLIN, July 12 (Reuters) - Irish pharmaceutical wholesale and retailing group Uniphar has raised its target of 150 million euros ($169 million) in an initial public offering (IPO) and its shares will start trading in London and Dublin next week, it said on Friday.

The listing is the first this year for Euronext Dublin, formerly known as the Irish Stock Exchange, after a number of flotations were postponed following market turbulence towards the end of 2018.

Uniphar, formed in 1994 through the merger of United Pharmacists Co-op and Allied Pharmaceutical Distributors, will use the capital from the placing to pay for acquisitions, growth and to reduce debt.

$1 = 0.8873 euros Reporting by Padraic Halpin; Editing by Mark Potter

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