Chinese firm Livzon eyes nearly 78% stake in Vietnam's pharma major Imexpharm
Lian SGP Holding Pte. Ltd., a Singapore-based entity wholly owned by China’s Livzon Pharmaceutical Group Inc., is seeking to acquire nearly 78% of Imexpharm, one of Vietnam's leading pharmacy corporations.
Imexpharm JSC (HoSE: IMP) said it has received a public tender offer filing from Lian SGP Holding Pte. Ltd. to buy more than 120 million IMP shares, equivalent to 77.94% of the company’s outstanding shares.
The offer price is set at VND57,400 ($2.2) per share, valuing the potential transaction at around VND6.9 trillion ($262.6 million).
An Imexpharm plant. Photo courtesy of the firm.
As of September 30, 2025, South Korea’s SK Investment was Imexpharm’s largest shareholder, holding 47.69% of the company, followed by Vinapharm (UPCoM: DVN) with a 22.04% stake.
Other notable shareholders include Binh Minh Kim Investment JSC with 9.75% and KBA Investment JSC with 7.37%, which are both entities related to SK.
Lian SGP Holding is an indirect wholly owned subsidiary of Livzon Pharmaceutical Group, one of China’s largest drugmakers. Livzon first disclosed its intention to acquire control of Imexpharm in late May 2025, when it announced plans to purchase a 64.81% stake.
At the 2025 AGM, Sung Min Woo, chairman of Imexpharm (HoSE: IMP), said that SK may adjust its stake in Imexpharm as part of a comprehensive portfolio review across the group, including all of SK’s global assets.
In the first nine months of 2025, Imexpharm posted gross revenue of VND2.12 trillion ($80.6 million), up 21% from a year earlier, while net revenue rose 16% to VND1.8 trillion ($68.5 million). By the end of September, Imexpharm had completed 68% of its full-year net revenue target and 63% of its pre-tax profit goal.
The drugmaker also accelerated product development, launching 20 new products in the period.
IMP shares ended up 0.93% to VND54,200 ($2.06) each on Friday.
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