Pharmesis International (SGX:BFK) completed the acquisition of the remaining 19% stake it did not own in Sichuan Longlife Pharmaceutical, a filing with the Singapore Exchange said on Monday.
Following the acquisition, Sichuan has become a wholly owned subsidiary of the company.
Pharmesis first announced the deal on Sept. 23, agreeing to acquire the balance stake for 2.8 million yuan.
Shares of Pharmesis surged over 14% in recent trading.
Price (SGD): S$0.20, Change: S$+0.025, Percent Change: +14.29%
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