Minapharm Pharmaceuticals announced, in a statement to the stock market, that it has been approved by Dutch drugs firm Trekwerk BV for a potential takeover of up to 100% in the company’s capital at EGP 37.5 per share.
The company added that, in case of bid’s success, it will study all options to best serve the bidding firm.
Minapharm is capitalized at EGP 123.7 million, divided into 12.4 million shares at EGP 10 par value each.
Minapharm had posted consolidated net profit of EGP 39.95 million for H1-14, with 20.5% decline year-over-year from EGP 50.258 million.
The company also posted EGP 38.504 million standalone net profit for H1-14, compared with EGP 46.596 million in H1-13.
Q1 net profit had reached EGP 19 million, with remarkable decline by 39% from EGP 31.3 million in the same period of Q1-FY13.
The company's financial statements for the fiscal year 2013 reflected net profit of EGP 81.203 million, jumping by 31.70% Y-o-Y from EGP 61.65 million.