Pharmaniaga: Private placement part of fund-raising exercise, not regularisation plan

KUALA LUMPUR: Pharmaniaga Bhd today explained that the proposed private placement announced last week is part of an interim fund-raising exercise and not part of the proposed regularisation plan to be submitted to Bursa Malaysia Securities.

Pharmaniaga, which was classified a Practice Note 17 (PN17) in February this year, said pending the finalisation and implementation of a proposed regularisation plan, it would continue to source for funds from the capital market as interim measures to bridge its working capital requirements.