SK Investment Vina raises ownership to 29.2 per cent in Imexpharm
SK Investment Vina III Pte., Ltd. has spent over VND34.5 billion ($1.5 million) to acquire 3.4 million shares of Imexpharm Pharmaceutical JSC to raise its ownership at the firm to 29.22 per cent.
Accordingly, two Vinacapital funds namely VOF Investment Ltd. and Vietnam Ventures Ltd. will transfer 5.18 per cent of its shares to SK Vina III, raising the latter's ownership at IMP from 24.02 to 29.2 per cent.
Following the transfer, the foreign ownership limit at Imexpharm remains unchanged at 49 per cent.
SK Investment Vina III is a member fund of SK Group, which has investments in Masan and Vingroup.
Total net revenue and income in the first five months of 2021 of Imexpharm were VND508.2 billion($22.1 million), which made up 33.2 per cent of the annual plan and was up 11.6 per cent on-year. Net revenue in the first five months reached VND502.2 billion ($21.83 million) and increased by 11.2 per cent compared to the corresponding period of the previous year. Imexpharm products accounted for 97 per cent of its revenue structure. Besides this, revenue from franchising and sales from other products decreased rapidly compared to last year.
Pre-tax profit accumulated until the end of May was VND97.6 billion ($4.24 million) and met 33.7 per cent of the annual target. However, it was up an impressive 26.1 per cent on-year.
The company predicted that in the coming months, sales expenses would slowly increase due to the fourth wave of the pandemic in the northern provinces and Ho Chi Minh City. Therefore, Imexpharm has reviewed sales support and marketing activities to ensure that the company fully obeys the pandemic prevention measures issued by the Ministry of Health and provincial governments.
