Imexpharm (IMP) Leaders Sell Shares as Lian SGP Acquires 67.87% Stake from SK Group

Overview

Multiple leaders of Imexpharm (IMP, HOSE) sold shares on May 7, the same day Lian SGP Holding Pte. Ltd. completed its acquisition of a 67.87% stake from SK Group for nearly VND 6,000 billion, becoming the new parent company. The management sales, including by the CEO and two deputy CEOs, reduced their holdings significantly.

Key Facts

• CEO Tran Thi Dao sold 371,400 IMP shares on May 7 via negotiated transactions, reducing her stake from 0.44% to 0.20%.
• Deputy CEO Ngo Minh Tuan sold 156,000 IMP shares on May 7, cutting his stake to 0.10%.
• Deputy CEO Huynh Van Nhung sold 80,000 IMP shares on May 7, reducing his stake to 0.065%.
• Chief Accountant Duong Hoang Vu sold 12,000 IMP shares on May 7, leaving a 0.006% stake.
• Lian SGP Holding Pte. Ltd. acquired 104.5 million IMP shares at VND 57,400 per share, totaling nearly VND 6,000 billion (approx. USD 240 million), raising its ownership from 0% to 67.87%.
• Lian SGP is an indirect subsidiary of Livzon Pharmaceutical Group, a top-25 Chinese pharmaceutical company.
• The stake was purchased from SK Group entities: SK Investment Vina III Pte. Ltd., Binh Minh Kim Investment JSC, and KBA Investment JSC.
• SK Investment Vina III reduced its stake from 47.69% to 3%, while the other two sellers exited completely.

What Happened

On May 7, 2026, multiple Imexpharm leaders executed share sales via negotiated transactions. CEO Tran Thi Dao sold 371,400 shares, Deputy CEOs Ngo Minh Tuan and Huynh Van Nhung sold 156,000 and 80,000 shares respectively, and Chief Accountant Duong Hoang Vu sold 12,000 shares. The sales coincided with the completion of a major ownership change: Lian SGP Holding Pte. Ltd. acquired a 67.87% stake in Imexpharm from SK Group entities, paying nearly VND 6,000 billion (VND 57,400 per share). The transaction was conducted between April 17 and April 21, 2026, according to regulatory filings.

Lian SGP Holding is an indirect wholly-owned subsidiary of Livzon Pharmaceutical Group, a Chinese pharmaceutical conglomerate listed on the Shenzhen Stock Exchange. Livzon, founded in 1985, operates in over 30 countries and ranks among the top 25 pharmaceutical companies in China. The acquisition makes Lian SGP the new parent company of Imexpharm.

Market Context

Imexpharm (IMP) closed at VND 46,850 on May 12, 2026, with low volume of 24,100 shares. The stock has been under pressure following the leadership sales and the change in controlling shareholder. The pharmaceutical sector on HOSE has seen mixed performance, with foreign ownership limits and regulatory changes affecting investor sentiment. The entry of Livzon via Lian SGP positions Imexpharm for potential strategic realignment, but near-term uncertainty remains.

Strategic Significance

The acquisition by Livzon Pharmaceutical Group brings a deep-pocketed strategic partner with global reach to Imexpharm. Livzon’s expertise in research, development, and manufacturing of Western and traditional Chinese medicines could enhance Imexpharm’s product pipeline and distribution network. The management share sales may indicate a transition phase as new ownership takes control. For long-term investors, the key question is whether Livzon will inject capital, transfer technology, or consolidate operations to improve profitability and market share in Vietnam’s growing pharmaceutical market.

What to Watch

• Further management changes or board restructuring following the change in controlling shareholder.
• Livzon’s strategic plans for Imexpharm, including potential capital increases or business collaborations.
• Imexpharm’s Q2 2026 earnings report to assess financial impact under new ownership.
• Regulatory approvals for any future related-party transactions or share issuances.
• Foreign ownership dynamics, as Livzon’s entry may affect the foreign room available for other investors.