JAKARTA – PT Pyridam Farma Tbk’s (PYFA) steps in expanding the market to Australia is now materialised after acquiring the entire shares of Probiotic Limited, Australia. The transaction value of corporate action is worth AUD 251.32 million.

Nadia Miranty Verdiana, Corporate Secretary of PYFA, mentioned that Probiotec acquisition had been completed by PYFA Australia Pty Ltd (PAPL), a subsidiary, earlier this week (18/6). “This acquisition had been approved by shareholders in Extraordinary General Meeting of Shareholders on May 22, 2024,” she added in the information disclosure today (20/6).

According to Verdiana, several benefits of the completion of this acquisition include wider market expansion and market share enhancement. In addition, the acquisition will grant access towards research and development in order to create new products.

Probiotec is a manufacturer and packaging service company for various pharmaceutical and consumer health products listed on Australia Stock Exchange (ASX), Australia. Probiotec’s total shares as of April 18, 2024 was 83.77 million, with total outstanding shares of 81.32 million and performance rights of 2.45 million.

Probiotec’s stock portion is split to HSBC Custody Nominees, Australia, Limited of 17.63%, Citicorp Nominees Pty Limited of 9.86%, Inston Pty Ltd of 8.12%, National Nominees Limited of 6.50%, Wesley Stringer of 5.66%, and public investors of 52.23%. (LK/ZH)