Hyphens Pharma completes second tranche of Ardence Pharma acquisition
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Hyphens Pharma acquired an additional 17% stake.Hyphens Pharma International completed the second tranche of acquiring 17% of shares in Ardence Pharma on 9 May.The total consideration for the Tranche 2 Sale Shares, subject at the exchange rate of $1.00: RM3.25 was equivalent to $3.35m (RM10.9m).Following the transaction, Hyphens Pharma now holds an 82% stake in Ardence Pharma.The company will make further announcements as and when there are material developments on the proposed acquisition in due course.
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