India-based Natco Pharma will soon acquire a large stake in Adcock Ingram, with the pharmaceutical company delisting from the JSE.
Natco Pharma specialises in research, development, manufacturing, and marketing pharmaceutical products. The company has a market cap of around R30 billion.
In July, the company offered R75 per share to buy out Adcock Ingram's minority shareholders, with the local brands including Panado, Allergex, and Myprodol.
Anchor Capital Equity Analyst Sean Culverwell broke down the offer when it was announced, stating that it was a strong way to end Adcock's long spell in "minority purgatory."
Bidvest took control of Adcock Ingram in 2019 via a roughly 65 stake, but this saw the company's free float diminishing and liquidity drying up, meaning that the delisting felt inevitable.
