The head office of Lam Dong Pharmaceutical JSC in Da Lat City, Lam Dong Province. The company will sell 2.5 million shares owned by the State Capital Investment Corporation (SCIC) next month. — Photo congthuong.vn

The State Capital Investment Corporation (SCIC) will auction 2.5 million shares of Lam Dong Pharmaceutical JSC (HNX: LDP) at VND28,100 (US$1.20) per share.

The auction will be held at the Ha Noi Stock Exchange on October 10 and the volume of shares offered for sale is equal to 31.88 per cent of the firm’s charter capital.

Lam Dong Pharmaceutical JSC (Ladophar) shares ended flat on Wednesday at VND23,200 per share.

SCIC in October and December 2017 offered to sell its ownership at the pharmaceutical firm but the transaction was not completed.

Electronic retailer Nguyen Kim Group was the buyer at that time as it planned to increase its stake in Ladophar to 51 per cent from 24 per cent.

In May 2019, Nguyen Kim Group successfully completed the deal.

In the first six months of 2019, the pharmaceutical business earned VND181 billion ($7.78 million) in net revenue, down 13.8 per cent yearly, and VND6.84 billion in loss, up 10.3 per cent yearly. — VNS