South Korean firm buys 25 per cent of Imexpharm

Wednesday, Jun 03, 2020 12:18

The Imexpharm head office in Cao Lanh City, Dong Thap Province. — Photo

South Korean conglomerate SK Group’s investment arm has acquired nearly a 25 per cent stake in pharmaceutical firm Imexpharm JSC.

SK Investment Vina III, the investment arm of SK Group, purchased 12.32 million Imexpharm shares on May 29.

The value of the deal has not been revealed. Imexpharm shares (HoSE: IMP) on May 29 moved between VND54,000 (US$2.34) and VND54,400 each.

Most of the shares were transferred from Dragon Capital (11.3 million shares). Others sellers included CAM Vietnam Mother Fund and Mirae Asset Management.

SK Group had previously bought a 9.4 per cent stake in Masan Group for $470 million and a 6 per cent stake in Vingroup for $1 billion.

The foreign capital limit at Imexpharm is now 49 per cent and it has almost run out of room.

Other pharmaceutical companies such as DHG Pharmaceutical, Domesco and Pymepharco have raised their foreign ownership caps to attract investment.

In the first quarter of 2020, the company reported its net revenue was up 11 per cent on-year to VND303.7 billion and post-tax profit gained 14 per cent on-year to VND41 billion. — VNS

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