Binh Dinh Development Investment Fund (BDDIF) has registered to sell 10.47 million shares, equal to 20 per cent of Binh Dinh Pharmaceutical and Medical Equipment JSC’s charter capital.

The transaction is expected to be conducted between October 16 and November 11, the pharmaceutical company (Bidiphar) announced.

BDDIF holds 17.46 million Bidiphar’s shares, or 33.34 per cent of its capital. The fund’s ownership is expected to decrease to 13.34 per cent after the transaction.

Bidiphar began trading on the Unlisted Public Company Market (UPCoM) under the sticker DBD on January 16 this year. Its share prices have climbed some 40 per cent from VND35,000 a share, to around VND49,000 (US$2.16) this week.

At this price, BDDIF’s divestment value is estimated at VND500 billion ($22 million).

Bidiphar posted total revenues of VND1.44 trillion last year, up 14 per cent year-on-year, of which the pharmaceutical turnover accounted for 91 per cent, hitting VND1.31 trillion. However, its net profit reached VND141.5 billion, down 34 per cent year-on-year. — VNS