Japan-based Taisho Pharmaceutical completed the purchase of 9.2 million shares at DHG Pharmaceutical (DHG), increasing its stake at the latter to 32% or 41.8 million shares, Taisho said in a filing to the Ho Chi Minh City Stock Exchange (HoSE).
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With a public offer of VND120,000 (US$5.20) apiece, Taisho Pharmaceutical was calculated to have spent over VND1.1 trillion (US$47.25 million) to increase its holding in DHG.
Taisho Pharmaceutical in early June spent VND85.5 billion (US$3.71 million) for 650,000 shares of DHG, raising its holding in the Vietnamese medicine producer to 24.94%.
DHG's largest shareholder is State Capital Investment Corporation (SCIC) with 56.6 million shares or a 43.31% stake.
On July 4, DHG Pharmaceutical's foreign ownership limit was removed, as a result, the company adjusted its targets of revenue and pre-tax profit growth of at least 13% and 7%, respectively.
At the close on August 20, DHG's share value declined for a fifth straight day, touching to VND96,000 (US$4.13) per share. The stock stayed still on August 21.
Taisho Pharmaceuticals, headquartered in Tokyo, is a leading Japanese pharmaceutical company specializing in the manufacturing of pharmaceutical products and non-prescription dietary supplements under well-known brands.
