Sanofi logo at the company's headquarters during the annual results news conference in Paris, France, February 4, 2022. REUTERS/Benoit Tessierexpects to list its drug ingredients business EUROAPI on May 6, having received approval from French stock market regulator, the pharmaceutical giant said on Friday.
Sanofi said the new shares will be distributed to its shareholders at one EUROAPI share per 23 Sanofi shares.The company confirmed plans to conserve a 30% stake in the business after the listing while the French state will buy a 12% stake through EPIC Bpifrance for up to 150 million euros ., Sanofi's largest shareholder with a more than 9% stake, and EUROAPI Chief Executive Karl Rotthier have both agreed to a one-year lock-up period after the listing, it added.