Select Language:
Shares in Shanghai Titan Scientific soared by as much as 6.9 percent today following the company’s announcement of plans to acquire its British counterpart, Apollo Scientific, for GBP 5.7 million (approximately USD 7.8 million). The move aims to diversify its product range and strengthen its global presence.
Titan’s stock closed up 4.3 percent at CNY 26.95 (around USD 3.80), after reaching a high of CNY 27.60 earlier in the trading session.
According to the company, Titan has executed a share purchase agreement with Central Glass, the current owner of Apollo, which is listed on the Tokyo Stock Exchange. Upon completion of the transaction, Apollo will become a wholly owned subsidiary of Titan.
The acquisition is expected to enhance Titan’s product lineup with a variety of innovative chemicals and establish a new overseas manufacturing and operational base. This strategic move will support the expansion of Titan’s international sales channels and bolster its global footprint.
Apollo, a specialized chemical supplier recognized for its strong brand in the UK and Europe, has experienced financial losses in recent years. The Manchester-based firm reported a net loss of CNY 6.9 million (about USD 964,700) in 2023 and CNY 5.5 million (roughly USD 769,000) in 2024, though losses are anticipated to diminish further this year.
Serving major global pharmaceutical companies, biotech firms, academic research organizations, and chemical producers, Apollo offers a broad portfolio—including chemical intermediates, fluorides, and life science reagents—with over 100,000 different compounds. It also provides customized synthesis services tailored to specific customer requirements.
The deal remains contingent on regulatory approvals in China and internationally, as well as clearance from relevant stock exchanges, Titan noted.
ChatGPT
Perplexity
Gemini AI
Grok AI
