Grapevine

Investment firm Zrosk buys 10% stake in Lagos-based drugmaker MeCure

Zrosk Investment Management Limited, a firm of investment managers focusing on Africa, has taken a 10 per cent ownership in pharmaceutical company MeCure Industries Limited, according to a regulatory filing published on Friday.

Zrosk targets small and middle market businesses in the real sector with high growth potential.

MeCure, which was admitted by the Nigerian Exchange (NGX) last November into its Growth Board, said the off-market deal was finalised, following clearance from the exchange.

The NGX Growth Board, the listing segment for growth-oriented companies with relatively small market value, allows firms with a market capitalisation of at least N500 million to join its ranks.

Based in Lagos, MeCure manufactures and distributes over-the-counter medicines, branded generics and dietary supplements.