JAKARTA (Yosefardi) – State pharmaceutical PT Indofarma Tbk (INAF) will divest 20% stake in its subsidiary PT Indofarma Global Medika, a distributor of pharmaceutical products, through private placement.
One conglomerate from Malaysia will reportedly be the buyer for around US$20 million, equivalent Rp242.4 billion. The transaction will be realized before end of this year.
INAF has cash of Rp11.55 billion as of September this year. It suffered loss of Rp35.67 billion in first nine months of 2014.