Pyridam Farma Plans To Acquire Companies In Australia

Photo: Doc. Pyridam Farma

JAKARTA PT Pyridam Farma Tbk (PYFA), through its subsidiary founded in Australia PYFA Australia Pty Ltd, plans to acquire Probiotec Limited by signing Scheme Implementation Deed (SID) on December 21, 2023, which is a conditionally binding agreement.

Meanwhile, with the plan of a subsidiary of Pyridam Farma to take over all shares issued by Probiotec Limited at a price of 3 Australian dollars per share.

For information, probiotec Limited is one of the largest pharmaceutical companies from Australia in manufacturing in partnership with major global players such as Johnson&Johnson, Pfizer, iNova, Blackmores, and others for various other consumer health drugs and products.

CEO of Pyridam Farma, Lee Yan Gwan said this acquisition step will provide access to advanced technology and also an opportunity to partner with global pharmaceutical players who will later benefit the pharmaceutical industry in Indonesia.

"Pyridam Farma today took a big step by acquiring one of the best pharmaceutical companies in Australia, Probiotec Limited. In line with Pyridam Farma's ambition to become a global pharmaceutical player, we are aware of the importance of innovation and research (research & development)," he explained in his official statement, Friday, December 22.

PYFA Corporate Secretary, Nadia Miranty Verdiana explained, the company has the opportunity to be able to utilize Probiotec resources, such as modern production facilities, extensive networks, access to technology, distribution networks, research, knowledge, and development of new products that have a better impact. positive.

"After the completion of the Takeover Plan, the Company through the Subsidiary Company will be the shareholder of all shares in Probiotec," he said.

Previously, Pyridam Farma would add capital by Providing Pre-emptive Rights (PMHMETD) or rights issue by releasing as many as 16 billion new shares with a nominal value of Rp100 per share.

At the same time, the company will also issue as many warrants as possible, equivalent to 35 percent of the total issued and fully paid shares.

This corporate action will be held in a span of 12 months after the approval of the Extraordinary General Meeting of Shareholders (EGMS) on January 4, 2024.

In addition, this rights issue can run if the Financial Services Authority (OJK) has declared effective in the issuance of new shares. The plan is for the proceeds of this corporate action to strengthen the capital structure in order to support the development of the Company's business.