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Lian SGP Holding, a subsidiary of China’s Livzon Pharmaceutical Group, has acquired 68% of Imexpharm’s charter capital, making it the largest shareholder in the Vietnamese antibiotic market leader. The acquisition gives foreign shareholders 67.87% of Imexpharm’s charter capital, securing decisive control.
According to a recent report, Lian SGP Holding purchased more than 104.5 million Imexpharm shares (IMP). The transaction follows a public takeover offer made in mid-January for more than 120 million shares, equivalent to nearly 78% of Imexpharm’s capital.
Compared with the initial registration, the foreign buyer purchased about 15.5 million fewer shares. The bid price was 57,400 dong per share, valuing the deal at nearly 6,000 billion dong. This is about 22.5% higher than the closing market price at the time of the offer.
Using the bid price, Imexpharm is valued at approximately 8,842 billion dong (more than US$338 million). The identity of the seller was not disclosed in the transaction.
Previously, Livzon Pharmaceutical Group announced plans to buy Imexpharm shares from SK Investment (part of SK Group), Bình Minh Investment, and KBA Investment.
A mid-March report by FPT Securities (FPTS) suggested that a new group of shareholders would run Imexpharm from the second quarter. FPTS said Livzon’s presence as a major shareholder could help the company leverage its scale and brand to expand domestically and for exports.
FPTS also noted that Livzon has experience in manufacturing high-tech products and active pharmaceutical ingredients (APIs), which could help Imexpharm optimize production costs and increase the proportion of high-value products.
Imexpharm has set targets for this year of revenue at 3,200 billion dong, up about 10% year-on-year, and pretax profit of 502 billion dong, up 12.5%. If achieved, the company would record its highest profit in its history.
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