Executive chairman makes offer for Star Pharmaceutical at S$0.45 a share

Singapore

THE Singapore Exchange's (SGX) minimum trading price (MTP) criteria may have claimed another victim.

The executive chairman of mainboard-listed Star Pharmaceutical, Xu Zhi Bin, on Monday purchased from executive director Wang Qi a 22.67 per cent stake in the company for about S$1.5 million or S$0.142 per share, triggering an offer for the company at S$0.45 a share in cash.