Pharmaniaga proposes private shares placement

KUALA LUMPUR: Pharmaniaga Bhd has proposed to undertake a private placement of up to 131.02 million new ordinary shares representing 10% of its total issued shares to third-party investors to be identified later and at an issue price to be determined.

The company said the exercise shall be undertaken in accordance with the general mandate pursuant to Sections 75 and 76 of the Companies Act 2016 which were approved by its shareholders at its AGM held on Monday.—- Bernama