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MARKET WRAP: Aspen soars after receiving offers for parts of its business

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The local bourse was dragged sharply lower by Naspers and Prosus after Tencent suffered another regulatory crackdown on gaming companies in China

Aspen Pharmacare shrugged off Thursday’s broad market slump after receiving unsolicited offers for parts of its business, with Naspers and Prosus leading the JSE sharply lower amid another regulatory crackdown on China’s technology sector.

Aspen, SA’s largest pharmaceutical company by market capitalisation, rose the most in four months on Thursday after saying it had received two offers to buy parts of its global active pharmaceutical ingredients , which manufacturers the active ingredients used in medications...

 

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