Imexpharm (IMP) Appoints Chinese Chairman After Livzon's $240M Acquisition

Overview

Imexpharm (IMP) has appointed a new Chairman and several senior executives following the completion of a controlling stake acquisition by Livzon Pharmaceutical Group, a major Chinese pharmaceutical company. The deal, valued at approximately VND 6,000 billion (USD 240 million), sees Livzon’s subsidiary Lian SGP Holding Pte. Ltd. holding 67.8% of IMP, making it one of the largest M&A transactions in Vietnam’s pharmaceutical sector this year.

Key Facts

• Imexpharm (IMP) appointed Mr. Liu Daping, a Chinese national born in 1987, as Chairman of the Board of Directors for the remainder of the 2023-2027 term.
• Ms. Liu Ning (Chinese, born 1983) was appointed to the Nomination and Remuneration Committee and the Audit and Risk Management Committee.
• Ms. Han Thi Khanh Vinh joined the Nomination and Remuneration Committee, and Mr. Hoang Duc Hung was appointed Chairman of the Audit and Risk Management Committee.
• Lian SGP Holding Pte. Ltd., a subsidiary of Livzon Pharmaceutical Group, acquired over 104.54 million IMP shares, representing a 67.8% stake.
• The acquisition value is approximately VND 6,000 billion (about USD 240 million).
• Imexpharm operates 12 production lines certified to EU-GMP standards, the highest number among Vietnamese pharmaceutical companies.

What Happened

Imexpharm announced a series of senior management changes following the completion of Livzon Pharmaceutical Group’s acquisition of a controlling stake. The new Chairman, Mr. Liu Daping, holds a bachelor’s degree in pharmaceutical technology. Ms. Liu Ning, also a Chinese national, holds a Chinese legal practice certificate and is an ACCA-certified accountant. The appointments were disclosed in a company filing.

The acquisition was executed through Lian SGP Holding Pte. Ltd., which purchased over 104.54 million shares, equivalent to 67.8% of IMP’s outstanding shares. The transaction, valued at roughly VND 6,000 billion, positions Livzon as the controlling shareholder of one of Vietnam’s leading high-quality pharmaceutical manufacturers.

Market Context

IMP shares closed at VND 41,200 on June 30, 2026, down 0.36% with low trading volume of 10,600 shares. The stock trades on HOSE. The acquisition comes amid consolidation in Vietnam’s pharmaceutical sector, where foreign players are increasingly targeting local firms with EU-GMP certifications. Imexpharm’s 12 EU-GMP certified lines give it a competitive edge over most domestic peers, which typically operate at WHO-GMP standards.

Strategic Significance

The Livzon acquisition provides Imexpharm with access to a larger product pipeline, R&D capabilities, and potential export channels through its Chinese parent. For Livzon, the deal secures a manufacturing foothold in Vietnam with high-quality production infrastructure, enabling it to serve the domestic market and potentially export to other ASEAN countries. The appointment of Chinese nationals to key board and committee positions signals Livzon’s intent to integrate IMP into its regional strategy.

What to Watch

• Integration progress: Speed of technology transfer and new product launches from Livzon’s portfolio.
• Financial performance: IMP’s next quarterly earnings to assess margin impact from potential cost synergies.
• Regulatory approvals: Any additional approvals needed for the change of control or future capital increases.
• Competitive response: Moves by other domestic pharma firms to seek foreign partnerships or upgrade facilities.
• Foreign ownership: Whether Livzon will increase its stake further via a tender offer or rights issue.