JSE-listed Ascendis Health's share price rose by more than 23% on October 19.
On the same day, the company issued an update on proposed plans to dispose of its Ascendis Pharma business segment.
The company reported that it had received a number of unsolicited, nonbinding and highly conditional proposals for potential transactions of various descriptions.
Ascendis' board would evaluate the proposals and the company would, in due course, provide an update to shareholders, it said.
The company's share price increased by 23.3% to R1.27 a share, compared with Monday's close of R1.03 a share.