Aztiq, Innobic Announce Secondary Sale Pricing Of lotus Common Stock

KUALA LUMPUR, July 3 (Bernama) -- Aztiq Pharma Partners (Aztiq) and Innobic (Asia) Company Limited (Innobic), the life science arm of Thai oil and gas conglomerate PTT Public Company Limited (PTT), announced the pricing of a sale of 25,095,850 shares of Lotus Pharmaceuticals (Lotus), a multinational pharmaceutical company, at a price of NT$297 per share. (NT$100 = RM14.99)

The trade will be settled on July 5, subject to satisfaction of customary settlement procedures.

The sale is being executed by Alvogen Emerging Market Holdings Limited (AEMH), which will continue to own 41 per cent of Lotus common stock after the close of the transaction. Inclusive of Innobic’s direct holdings of Lotus, the shareholders will continue to own approximately 47.7 per cent of the company.

In a statement, Aztiq Founder, Robert Wessman said: “Today’s announcement is a big step in the evolution of Lotus that started as a company whose business was nearly entirely domestic.

“As Chairman, I look forward to continuing to work with Lotus’ proven management team that has led this transformation to collaborate on strategy and grow the business going forward.”

Meanwhile, Innobic Chairman, and PTT Chief New Business and Infrastructure Officer, Dr Buranin Rattanasombat said this transaction was a significant step for Lotus as it concurrently increases free-float of the stock and diversifies the shareholder base with strong institutional investors.

“As a leading shareholder of Lotus, our interests remain truly aligned with those of the company and its valued shareholders,” he said.

J.P. Morgan and Credit Suisse are acting as placing agents for the trade.

A private equity company focused on the life sciences sector, Aztiq is dedicated to fostering innovation and driving positive change within the industry.

-- BERNAMA