Recalcine Launches IPO

Chile’s Laboratorios Recalcine has launched an IPO, and plans to price May 4, according to a banker on the deal. The pharmacy will road show this week through April 29, and plans to offer 1.8bn primary shares and 336m secondary shares, in a deal that could reach $400m-equivalent. Proceeds are to be used for new acquisitions, as well as for refinancing debt and organic expansion. LarrainVial is managing the deal. Recalcine, which has a presence in 16 LatAm countries and is controlled by CEO Alejandro Weinstein, bought Argentina’s Northia in July for $25m, after buying 49% of UK-based Allergy Therapeutics for GBP22m in 2009.