Interpharma shares surge after PTT says it will buy 20% stake for 1 billion baht 

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Shares in Interpharma Plc (IP), a biopharmaceutical company, jumped over 10 per cent after Thailand’s national oil and gas PTT Plc (PTT) unveiled plans to acquire a 20 percent stake for 1 billion baht. 

IP rose by 11.64 per cent from its prior closing to 20.80 baht as of the morning session, while PTT gained by 1.38 per cent to 36.75 baht.

The board of directors at IP welcomed the investment via private placement for 1.04 billion baht, PTT president and chief executive Auttapol Rerkpiboon said in a statement. The acquisition will proceed through PTT’s indirect subsidiary Innobic LL Holding Co., Ltd.

“The collaboration aims to enhance the research and development of full-range healthcare products across the country,” Auttapol remarked. 

Innobic LL Holding is a unit of Innobic (Asia) that was founded in December 2020 with the goal of operating the new life science businesses for the PTT Group.

The transaction is set to be completed by the third quarter this year, with the deal subject to the Securities and Exchange Commission and IP’s Extra General Meeting approval. 

In a separate statement, IP said it had contacted PTT regarding the investment after PTT invested in Lotus Pharmaceutical Co., Ltd., a listed company in Taiwan, earlier in 2021. 

“We sought investors with a well-established reputation, a reliable source of capital, and the potential to mutually synergize businesses,” the drug maker said.

For the first quarter of 2022, IP reported a 72.6 per cent year-on-year jump in its net profit of 30 million baht driven by sales revenue. In 2021, the company’s full-year earnings jumped by 96 per cent from a year earlier. 

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