IOL Chemicals incorporates UK subsidiary, expands international footprint

IOL Chemicals and Pharmaceuticals Limited (IOL Chemicals) announced on October 24, 2025, the incorporation of its wholly-owned subsidiary, IOL Pharmaxis UK Limited, in the United Kingdom. Established under the Companies Act 2006 (England and Wales) on October 16, 2025, this marks a significant step for the company. The new subsidiary has a share capital of £10,000, with IOL Chemicals subscribing to 10,000 Ordinary Shares of £1/- each.

IOL Pharmaxis UK Limited is incorporated to conduct business in the pharmaceuticals and chemicals sector. It will be classified as a related party of IOL Chemicals, with no acquisition involved, as it is a direct incorporation. The subsidiary is yet to commence business operations.

The consideration for the shares will be remitted by IOL Chemicals in compliance with Foreign Exchange Management (Overseas Investment) Regulations, 2022. This strategic move aligns with the company's objectives to expand its business scope internationally within its core industry.