Zrosk Investment Management Ltd has aquired a 10% rquity state in MeCure Industries Plc (NGX: MECURE).
The acquisition was announced by MeCure in a regulatory filing on Friday.
According to the document, the transaction, which was conducted off-market, has been finalized following approval from the Nigerian Exchange Group (NGX).
The company noted that the partnership with Zrosk Investment Management Ltd, brings not only financial backing but also a shared vision to expand and enhance MeCure’s footprint in the pharmaceutical and healthcare sectors.
Commenting on the acquisition, Arjun Udani, Co-CEO of MeCure Industries Plc, stated: “We are delighted to welcome Zrosk Investment Management Ltd as a key shareholder in MeCure.
“This investment reflects the confidence in our long-term growth strategy and our commitment to delivering quality healthcare solutions to millions of Nigerians. With Zrosk’s support, we are well-positioned to execute our ambitious expansion plans and continue making a positive impact on the healthcare sector in Nigeria and beyond.”
The Managing Director/Chief Investment Officer of Zrosk Investment Management Ltd, Samson
Esemuede, expressed his excitement about the partnership, saying: “One of our core convictions at Zrosk IM is that ownership of industrial capacity on the African continent is shifting towards indigenous hands.
“We view the stock market as a theatre of such transition, and we see Mecure Industries as a potential dominant player in the pharmaceutical value chain on the continent. We were drawn to Mecure Industries’ commitment to domesticate
pharmaceutical industrial and intellectual capacity which we view as critical especially within the context of extremely high level of pharmaceutical product price inflation.
“From our analysis, Mecure Industries can deliver products in critical therapeutic areas at a unit cost that helps drive affordability across the population. We are thus proud to be a part of this journey and look forward to supporting Mecure’s ambitious current and future plans.
“This transaction aims to improve operational efficiencies, and provide greater access to resources necessary for advancing its market position.”
About MeCure Industries Plc is into the business of producing high-quality medicines and healthcare products. The company says it is “committed to improving access to affordable healthcare solutions across Nigeria.”
On Friday MECURE rose 0.6% to close at N8.45 per share on the floor of the Nigerian Exchange.
The 52-week high and low prices are N13 and N3.25 per share respectively.
The company has 4 billion outstanding shares and N33.8 billion market capitalization.
Ifunanya Ikueze is an Engineer, Safety Professional, Writer, Investor, Entrepreneur and Educator.
