FIDSON Spikes by 22% after Chinese Deal Announcement
Fidson Healthcare Plc’s market valuation increased by about 22% in the equities market after the pharmaceutical company announced strategic deals it closed with three Chinese firms.
The notice draw the attention of value hunters trading and highs and lows in the equities segment of the Nigerian Exchange (NGX). Shortly after, investors started to mop up shares of the company on expectation that the deal with drive earnings growth.
Consequent to the fresh positioning in the local bourse, the pharmaceutical company share price surged by 21.8% in the equities market, up from N13.10 to N15.95. Also, the strong and rapid buying interest in the healthcare stock lifted its market valuation to N36.605 billion week on week.
Fidson Healthcare Plc told the Nigerian Exchange that the company signed a Strategic Cooperation Memorandum with Jiangsu Aidea Pharma, Nanjing PharmaBlock, and the China-Africa Development Fund in Beijing, China, to build a pharma plan in Nigeria.
The management explained that the 4 (four) parties have agreed to actively leverage their respective strengths to establish a new joint venture pharmaceutical plant project in Nigeria.
This new project, according to an official statement released, is poised to promote Africa’s self-reliance in healthcare delivery, especially in tackling HIV.
“All parties agreed to share information and resources, jointly explore investment opportunities in the pharmaceutical markets of West African countries, and implement investment cooperation at the project level.”. Fidson said. #FIDSON Spikes by 22% after Chinese Deal Announcement Ecobank Advises Businesses to take advantage of its Single Market Trade Hub
