AFT Pharmaceuticals float
December 11, 2015
AFT Pharmaceuticals, a company
started in a family garage in 1997,
is about to float on both the
Australian and New Zealand stock
exchanges with a value of NZ$269m.
Founder Hartley Atkinson
M.Pharm, PhD, originally from
Perth, but now living in NZ, has
been dubbed the “Dick Smith of the
pharmaceutical industry” for his
entrepreneurial flair which has seen
the company develop products
such as Maxigesic, which has a 6%
share of the NZ paracetamol and
ibuprofen analgesic market.
Other products include
Crystaderm, Zostrix and Pascaderm.
Registration for cold and flu
treatment Maxiclear PE has
been achieved as well as the first
licensing deal in four European
countries, while in development is
the SURF nebuliser, a drug delivery
system for treatment of nasal
diseases such as chronic sinusitis.
“The main reason for this public
offering (IPO) is to enable AFT to
accelerate bringing these products
to global markets,” said Atkinson.
Investors have the opportunity to
be part of the initial public offering,
with a “priority offer” closing on
16 Dec prior to the planned formal
listing on 22 Dec.
Shares under the offer are priced
at $2.80, with the IPO aiming to
raise about $30 million.
Atkinson and his wife Marree
will retain a significant stake in the
business and will continue their
existing executive roles.
The offer document can be
viewed at aftpharmshares.com.
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