China Nepstar Chain Drugstore has completed a merger with Neptunus Global, a wholly owned subsidiary of China Neptunus Drugstore Holding.
As a result, Neptar is no longer a publicly traded company.
Under the terms of the merger agreement, all ordinary shares in the company, with a par value of US$0.0001 each, have been cancelled in exchange for the right to receive $1.31 in cash.
The company has requested its trading on The New York Stock Exchange to be suspended.
As as March 31, China Nepstar Chain Drugstore had 2000 stores across 69 cities, a distribution centre/headquarters and 15 regional distribution centres in China. It provides quality, professional and convenient pharmaceutical products and services plus a variety of other merchandise including OTC drugs, nutritional supplements, herbal products, personal-care products, family-care products, and convenience items.
It has a strategy of centralised procurement, competitive pricing, customer loyalty programs and private-label offerings.