ABVC BioPharma, Inc. has announced a share dividend, distributing one share of AiBtl BioPharma Inc. for each share of ABVC common stock owned, a move expected to distribute approximately 15 million AiBtl shares. This initiative, a first for ABVC, underscores the company's confidence in AiBtl's long-term potential and its dedication to enhancing shareholder value. AiBtl, a Delaware-based biopharmaceutical company and a subsidiary of ABVC, is focused on developing botanical-based therapeutic candidates for central nervous system disorders, with ABVC holding a 57.8% majority stake in the company.
Dr. Uttam Patil, ABVC's Chief Executive Officer, highlighted this dividend as a milestone in the company's journey, emphasizing the strategic partnership with AiBtl to advance ABVC's objectives in international business development and collaborations with global pharmaceutical companies. This dividend reflects ABVC's strategy to leverage its pipeline of six drugs and one medical device under development, despite acknowledging the risks and uncertainties inherent in the biopharmaceutical industry.
