CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Investment / News
Japan’s Taisho Group takes control of Vietnam’s DHG Pharmaceutical
Hai Yen 15:43, 2019/04/25
With an offering price of VND120,000 (US$5.14) per share, Taisho was expected to part away with at least VND2.47 trillion (US$105.84 million) to complete the deal.
Japan-based Taisho Pharmaceutical has lifted its holding in Vietnam’s Duoc Hau Giang (DHG) Pharmaceutical to over 50% and turns the latter into one of its subsidiaries, Taisho has said in a filling to the Ho Chi Minh City Stock Exchange (HoSE). 
 
Illustrative photo.
Illustrative photo.
Taisho purchased 20.6 million shares from DHG out of the 28.3 million shares on offer, taking its total shareholding to nearly 66.4 million, equivalent to 50.78% stake, according to the statement. 

With an offering price of VND120,000 (US$5.14) per share, higher than the current value at VND112,700 (US$4.83) recorded at the close on April 24, Taisho was expected to part away with at least VND2.47 trillion (US$105.84 million) to complete the deal. 

Behind Taisho, State Capital Investment Corporation (SCIC) is DHG’s second largest shareholder, holding 56.6 million shares or 43.31% stake, followed by Templeton Frontier Markets Fund (FTIF) and Norges Bank with 2.83% and 1.98% stakes, respectively. 

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.

The Japanese company is pushing for market expansion in ASEAN countries and also in the East Asia. Currently, Taisho has overseas subsidiaries in Hong Kong, Taiwan, Malaysia, the Philippines, Thailand, Vietnam, China, and the US, along with local productions bases in Malaysia, Vietnam, China, among others. 

In the first quarter of 2019, DHG’s revenue declined by 15% year-on-year to VND908 billion (US$38.9 million), while pre-tax profit was down 10% year-on-year to VND171 billion (US$7.32 million). 

In 2019, the local medicine maker targets revenue of VND3.94 trillion (US$168.83 million), up 1.6% year-on-year, and pre-tax profit at VND754 billion (US$32.3 million), up 3% year-on-year. 
Comments
Other news
16:36, 2024/04/29
Over US$4.6 billion poured into Vietnamese startups in past decade
Technological innovation has become an important factor driving Vietnam's sustainable economic development amid the uncertain global economic issues.
19:59, 2024/04/23
Nvidia, FPT invest US$200 million in AI factory
Nvidia will help local businesses in accelerate digital transformation and make Vietnam an AI powerhouse.
12:23, 2024/04/08
US-based Rosen Partner to invest in world-class entertainment complex projects in Vietnam
The project is expected to crystallize and showcase Vietnam's unique cultural values to the world.
15:07, 2024/03/13
Foreign capital set to dominate Vietnam’s M&A landscape
The positive trend of foreign capital in the M&A market this year follows the momentum of 2023, where the top five largest deals involved foreign investors.
19:51, 2024/03/04
Samsung to invest US$1 billion annually in Vietnam
Samsung's R&D center currently employs 2,400 engineers, with Vietnamese engineers playing a crucial role in researching AI features for the new Galaxy S24 phone series.
15:05, 2024/02/29
Thai bank acquires Vietnamese finance company
Thailand's fourth-largest bank has agreed to acquire all the equity of Home Credit Vietnam for US$865 million.