HCM City Drug Firm Sells Shares (Vietnam)
This article was originally published in PharmAsia News
Imexpharm, one of Vietnam's leading drug companies, sold shares to two major investment funds. Vietnam Fund Management bought a 6 percent stake in the company while Vietnam Holding purchased a 2 percent interest. The sale is part of Imexpharm's efforts to raise their chartered capital from VN$92 billion (U.S.$5.7 million) to VN$112 billion. Imexpharm already boasts an impressive growth rate of 30 percent a year. In the first 10 months of 2007, it reported a gross profit worth VN$54 billion. Representatives for Imexpharm are hopeful the new alliances will help the company develop relationships with more partners and improve its corporate governance practices. (Click here for more
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