Drug maker Sintofarm Bucharest is selling some 2 million newly issued shares with a par value of 2.50 RON/share as part of a capital increase worth 5 million RON (1.4 million euros). Newly issued shares will be subscribed by existing shareholders. In the wake of this operation, the company's share capital will reach 10 million RON (2.8 million euros). Sintofarm representatives could not be contacted for further details. The company's main activity is the manufacturing and distribution of basic drugs. Last year, according to information on the RASDAQ site, the company posted a turnover worth some 4.9 million RON (1.4 million euros), a 6.5% increase against the previous year, from 4.6 million RON (1.3 million euros). Last year's net profit stood at 0.3 million RON (0.1 million euros). In 2005, the company made investments worth 1.4 million RON (0.3 million euros), which were mainly used to upgrade equipment. The number of company employees stood at 59 people last year. This is not the first share issue that the company has made. Last year, Sintofarm issued another 1.6 million new shares with a nominal value of 2.5 RON/share, with the company's share capital reaching 1.2 million euros at the time.
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