Abramovich pharma float set for double valuation

Pharmstandard, the Russian pharmaceutical company-backed by the country's richest man Roman Abramovich, could be valued more than twice as much as was originally expected when it completes a $1bn (€738m) dual listing in London and Moscow next month.

Pharmstandard this morning launched its flotation just five months after it postponed plans for a stock market listing because of issues with its financial figures.

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