Abraaj exits investment in Tunisian pharma firm via IPO

DUBAI (Reuters) - Abraaj Group has exited its investment in Tunisia's second largest pharmaceutical company Unimed through an initial public offering (IPO) on the Tunis Stock Exchange, the Dubai-based private equity investor said on Wednesday. Unimed's IPO was priced at 11.8 Tunisian dinars a share, and was oversubscribed by 32.6 times, Abraaj said in an emailed statement. Unimed specialises in sterile dosage forms, such as intravenous solutions, and opthalmic products for global companies including Pfizer and Mylan. Abraaj and its partner French development agency Proparco reduced their stake ahead of Unimed's IPO through a partial sale to a consortium of investors, Abraaj said in December. The consortium of investors included Washington-based SQM, Blakeney Asset Management and the Tunisian-Kuwaiti Consortium of Development. (Reporting by Hadeel Al Sayegh; editing by Jason Neely)