Wanbury Limited issued 1% Unsecured Foreign Currency Convertible Bonds (FCCB) of Euro 15 Million in two tranches namely FCCB (A Bonds) of Euro 8 Million fully paid-up and FCCB (B Bonds) of Euro 7 Million 10% paid-up, vide its Offering Circular dated April 20, 2007.

The B Bonds have now been subscribed by Deutsche Bank. The B Bonds are listed on the Luxembourg Stock Exchange with a conversion price of Rs. 175 /- per share. The proceeds from the issue will be used to finance the development plans post the Spanish acquisition. Wanbury, the world's largest producer of Metformin, a diabetes management product, is currently focusing on capturing the European markets on the back of the Spanish acquisition and is streamlining its business verticals to ensure leadership in the gynecology, orthopedic and surgical segments.

Wanbury has grown at approximately 55% CAGR in sales over the last five years and has completed three acquisitions in last three years. About Wanbury The current production capacity of Metformin currently stands at approximately 8000 metric tonnes p.a. Wanbury is presently catering to over 40% of the world market and about 50% of the US market. With a strong presence in the bulk drugs and formulation the company plans to focus on improving its presence in Branded products and increase its CRAMS operations. The company is also in the Contract, Research, And Manufacturing Services and manufactures for MNCs like Pfizer, Farma Projects, etc.

Wanbury presently has approximately 40 scientists at its R&D centers. Over the next 12 to 18 months, Wanbury shall set up a new R&D center near Patalganga, to focus on its existing API, Formulation and CRAMS business The company caters to customers across the globe including some of the top generic players in the US and Europe.

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