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SCIC to offload pharmaceutical shares

Update: September, 19/2019 - 15:24


The head office of Lâm Đồng Pharmaceutical JSC in Đà Lạt City, Lâm Đồng Province. The company will sell 2.5 million shares owned by the State Capital Investment Corporation (SCIC) next month. — Photo

HÀ NỘI — The State Capital Investment Corporation (SCIC) will auction 2.5 million shares of Lâm Đồng Pharmaceutical JSC (HNX: LDP) at VNĐ28,100 (US$1.20) per share.

The auction will be held at the Hà Nội Stock Exchange on October 10 and the volume of shares offered for sale is equal to 31.88 per cent of the firm’s charter capital.

Lâm Đồng Pharmaceutical JSC (Ladophar) shares ended flat on Wednesday at VNĐ23,200 per share.

SCIC in October and December 2017 offered to sell its ownership at the pharmaceutical firm but the transaction was not completed.

Electronic retailer Nguyễn Kim Group was the buyer at that time as it planned to increase its stake in Ladophar to 51 per cent from 24 per cent.

In May 2019, Nguyễn Kim Group successfully completed the deal.

In the first six months of 2019, the pharmaceutical business earned VNĐ181 billion ($7.78 million) in net revenue, down 13.8 per cent yearly, and VNĐ6.84 billion in loss, up 10.3 per cent yearly. — VNS

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