ASKA Pharmaceutical raises ownership in Ha Tay Pharmaceutical to nearly 33 per cent

January 03, 2024 | 11:09

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ASKA Pharmaceutical Co., Ltd. has increased its ownership of Ha Tay Pharmaceutical JSC (Hataphar) to 32.6 per cent through a private placement.

ASKA Pharmaceutical raises ownership in Ha Tay Pharmaceutical to nearly 33 per cent

On December 25, Hataphar announced that it had completed the sale of 8.4 million shares to ASKA Pharmaceutical, thereby increasing its charter capital to VND877 billion ($37 million). With the offering price of VND21,500 (91 US cents) apiece, the transaction is estimated to be worth VND180.6 billion ($7.6 million).

Following the deal, ASKA Pharmaceutical increased its ownership of Hataphar from 24.9 per cent (18.41 million shares) to 32.6 per cent (25.8 million shares). The shares from the private placement will be restricted from transfer for three years.

Of the total proceeds, Ha Tay Pharmaceutical will use more than VND78.4 billion ($3.3 million) for the Hataphar High-tech Pharmaceutical Manufacturing factory and VND102.2 billion ($4.3 million) to restructure bank debts and ease financial pressure on the company.

ASKA was established 100 years ago and is headquartered in Tokyo, Japan. Its main business is manufacturing and trading pharmaceuticals, medicines, and medical equipment. In the pharmaceutical segment, the company specialises in internal medicine, obstetrics and gynaecology products, and urinary tract treatments.

In the first nine months of 2023, Hataphar recorded a net revenue of VND1.53 trillion ($64.6 million) and after-tax profits of VND72.1 billion ($3 million), up 17 per cent and 15 per cent on-year, respectively.

Over 2023, Ha Tay Pharmaceutical set a business plan with a revenue target of VND1.6 trillion ($67.5 million) and a pre-tax profit of VND80 billion ($3.4 million). With a pre-tax profit of VND89.6 billion ($3.8 million) in the first nine months of 2023, the company has exceeded the annual profit target by 12 per cent.

ASKA Pharmaceutical to secure 33 per cent stake in Hataphar

Upon the transaction's completion, the Japanese firm ASKA Pharmaceutical will possess 26.8 million shares in Ha Tay Pharmaceuticals (Hataphar), equating to nearly 33 per cent of the Vietnamese pharmaceutical company's equity.

Japanese drug maker ASKA to acquire 24.9 per cent of Ha Tay Pharmaceutical JSC

ASKA Pharmaceutical Co., Ltd. (ASKA) announced that the company has completed negotiations to acquire 24.9 per cent of the shares of Vietnamese pharmaceutical company Ha Tay Pharmaceutical JSC (Hataphar).