Japanese pharmaceutical firm Taisho has offered to buy more than 9.23 million shares of DHG Pharmaceutical JSC (DHG), 7.06 per cent of DHG’s total shares.

The deal is expected to be completed between July 19 and August 17.

Taisho will buy DHG shares for VND120,000 (US$5.33) per share, raising the value of the deal to more than VND1.1 trillion ($48.9 million).

DHG is trading more than 130.7 million shares on the HCM Stock Exchange coded DHG, gaining 2.1 per cent to end Monday at VND101,800 per share.

Taisho Pharmaceutical Co Ltd is among the largest shareholders of DHG, holding more than 32.6 million shares or nearly 25 per cent of the Vietnamese firm’s total shares.

The deal would raise Taisho’s ownership in DHG to more than 32 per cent.

In early July, DHG gained approval from the State Securities Commission to lift ownership limit from 49 per cent to 100 per cent.

In the first quarter of 2018, DHG recorded VND908.4 billion in net revenue and VND171.5 billion in net profit, accounting for 25.7 per cent and 22.3 per cent of its full-year earnings targets. — VNS