DHG off-loads all treasury shares for $1 million

September 21, 2016 | 16:17

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DHG Pharmaceutical Joint Stock Company (DHG) announced that it sold its entire 222,380 treasury shares, earning VND22.9 billion (over US$1million), during the period from August 18 to September 16.

DHG Pharmaceutical Joint Stock Company (DHG) sells all its treasury shares between August and September-Photo taichinhplus.vn

After selling the shares at an average price of VND102,977 per share, DHG no longer has any treasury share. The firm said the transaction was undertaken to raise capital.

In July 2015, DHG purchased the treasury shares at an average price of VND78,805 per share.

Based in Can Tho Province since 1974, DHG is one of the leading drug makers in Viet Nam.

Currently, the State Capital Investment Corporation, with 43.31 per cent stake, is DHG's largest shareholder, followed by Taisho with 24.5 per cent, Franklin Templeton Investment funds-Templeton Frontier Markets Fund with 9.44 per cent and Portal Global Limited Holding with 7.7 per cent.

DHG reported marked net revenue of VND3.6 trillion in the fiscal year that ended on December 31, 2015, posting a year-on-year decrease of eight per cent. Of this amount, the company's net revenue in Q4 of 2015 reached VND1.149 trillion.

Following the announcement in May of the 35 per cent dividend for 2015, DHG shares surged by more than 23 per cent from VND82,000 to some VND100,000 per share on the HCM City Stock Exchange.

After the first half this year, DHG's sale reached VND1.7 trillion, an increase of 15 per cent, and profit after tax hit VND300 billion.

VNS

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