Thailand Petroleum Group PTT invested 1.55 billion baht (holding 6.66%) and officially completed its strategic investment in Taiwan Meishi Chemical Pharmaceutical Co., Ltd. The transaction will also strengthen the group's efforts to expand the pharmaceutical field, especially the cancer and nervous system business sectors.
Thailand Petroleum Group continues to fulfill its commitment to new business expansion reform. Recently, PTT bought 17,517,348 shares issued by Taiwan Messe Chemical Pharmaceuticals Co., Ltd. with its wholly-owned subsidiary for 1.55 billion baht, approximately NT$80.7 per share, accounting for 6.66% of the total paid share capital.
Meish Chemical Pharmaceutical Co., Ltd. was established in Taiwan in 1966. Its high-value product line covers the central nervous system, cancer and women's health and weight loss drugs, and is mainly composed of lozenges, capsules and soft capsules. Currently, the products developed by the company are sold to more than 30 countries around the world.
As Thailand's largest state-owned energy group, in recent years, it has made great progress in non-main businesses, such as new retail and pharmaceutical fields. At the beginning of this year, the OR Group promoted the initial public offering of retail gas station operations and other sectors, and investment in Messe Pharmaceuticals is also the group's latest efforts to strengthen new businesses. PTT believes that MiShi's advantages in cancer and central nervous system can help PTT develop rapidly in this field.
