The Straits Times / The Business Times News on AsiaPharm

AsiaPharm chairman's deemed stake hits 52.3%

MAINBOARD-LISTED pharmaceuticals company AsiaPharm Group yesterday reported that its executive chairman Liu Dianbo had increased his deemed stake in the company by 0.28 per cent, and now holds a deemed 52.30 per cent of the company's issued share capital.

Mr Liu's stake went up following open-market purchases on May 17-18 by AsiaPharm Holdings. On May 17, it paid about $132,000 for 228,000 shares, or a stake of 0.06 per cent. Yesterday, it bought another 915,000 shares for around $534,000, bringing his deemed stake in AsiaPharm to 52.30 per cent. Mr Liu also has a direct stake of 3.93 per cent or around 16 million shares. Analysts have been upbeat about the counter. AsiaPharm this month reported a 54.8 per cent rise in first-quarter net profit to 15.56 million renminbi (S$3.1 million).

- Compiled by DANIEL BUENAS