PYFA - PT. Pyridam Farma Tbk

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+5 (+0%)

JAKARTA. PT Pyridam Farma Tbk (PYFA) would acquire 100% of PT Holi Pharma, a pharmaceutical company established circa 1968. It is intended to support its business diversification and improve production capacity.

Nadia Miranty Verdiana, Corporate Secretary of PYFA, claims that her company had signed the sales-purchase agreement and conditional shares purchase agreement earlier this week, on August 23, 2021. The said contract specifies that PYFA would take over Holi Pharma’s shares from Erik Darius Mardiwidyo and Murtiati.

“The reason behind the contract or this acquisition is to expand the company’s business activities,” Verdiana confirms in the information disclosure in Indonesia Stock Exchange.

The price of Holi Pharma’s shares set for this transaction has not yet been announced. However, the management of PYFA claims that his corporate action would be categorised as a material transaction as its value exceeds 20% of the company’s total equity.

According to data, as of March 2021, PYFA owns total equity of IDR 165.07 billion. Thus, it means that the acquisition of Holi Pharma would expend over IDR 33 billion. (KR/ZH)