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Richter employee option program brings new shares to the market

Gedeon Richter Nyrt, eastern Europe's biggest drugmaker, said 65,560 new shares may enter the market after the expiration of a trading moratorium on its employee share option plan.

The shares can be sold starting today under the terms of the three-year option program, the company said today in a statement on the Budapest Stock Exchange's Web site. Richter spokeswoman Zsuzsa Beke said she couldn't immediately comment. Richter has 18.6 million shares outstanding and a market value of Ft 796.1 billion ($4.2 billion). The shares have risen 9.6% over the past 12 months, opening today at Ft 42,715. (Bloomberg)