Neimeth International Pharmaceuticals Plc has announced that its major institutional shareholder, Clinoscope Services Limited, purchased an additional 40 million ordinary shares in the company. The transaction is valued at N312 million.
The disclosure was signed by the Company Secretary, Chinenye S. Adekanmbi, and filed with the Nigerian Exchange (NGX). The transaction took place in Lagos on August 4, 2026, at a price of N7.80 per share.
Following this acquisition, Clinoscope Services Limited increased its total shareholding in Neimeth to 592,975,860 shares, up from the 552,975,860 shares it previously held.
Clinoscope Rebuilds Stake After 2025 Divestment
The recent purchase marks a partial reversal of Clinoscope's major divestment program in 2025, when the institutional investor sold 515.3 million shares. The 2025 divestment occurred in two separate transactions.
The first tranche of the sell-off involved 15.3 million shares sold at N6.10 per share on September 17, 2025. The second tranche saw the disposal of 500 million shares at N6.00 per share on December 19, 2025.
The new acquisition of 40 million shares represents approximately 7.8% of the total volume sold by Clinoscope last year. This buy-back reflects renewed confidence in Neimeth's strategic direction and growth plans.
Capital Restructuring and N30 Billion Fundraising Drive
The transaction occurs as Neimeth, led by Managing Director Pharm. Valentine C. Okelu, continues to strengthen its financial position. The company recently completed a capital restructuring program to eliminate accumulated losses and improve its balance sheet.
This restructuring scheme reduced the company's share premium account from N2.38 billion to N390.02 million. The company then transferred N1.99 billion of that balance to its retained earnings reserve.
In June 2026, shareholders at the 67th Annual General Meeting approved an additional N30 billion capital raise, increasing Neimeth's total fundraising mandate to N50 billion. This expanded an earlier N20 billion capital-raising program approved in June 2025, which had raised N2.44 billion through a rights issue, leaving an unutilised balance of N17.56 billion.
Financial Turnaround From FX Recovery
Neimeth reported a pre-tax profit of N1.49 billion for the financial year ended December 31, 2025. This performance represents a recovery from the pre-tax loss of N854.43 million recorded in 2024.
The financial turnaround was supported by a N48 million foreign exchange gain, contrasting with a foreign exchange loss of over N2 billion in the previous year. This represents a year-on-year improvement of 274%.
