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CORPORATE NEWS

Slovakofarma tabs Nomura for stock issue

Officials from the capital investment department of Slovakofarma Inc ., the largest Slovak pharmaceutical producer, announced in the second week of May that Nomura International Plc. will be the lead manager of the Hlohovec-based firm's 230.8 million Sk GDR issue.

The GDR issue, expected to be launched in September, will mark the first international stock issue of a private company from the Slovak Republic, officials said, adding the GDRs will be issued through raising Slovakofarma's equity by 15 - 20 percent.

Slovakofarma posted a 1996 net profit of 512.9 million Sk. According to a company spokesman, overall turnover at the firm for 1996 was 4.97 billion Sk, up from 4.34 billion Sk in 1995.

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