Pharmaniaga completes 10% first private placement exercise

KUALA LUMPUR: Pharmaniaga has successfully completed its 10 per cent first private share placement exercise and a second tranche of 10 per cent is expected to be taken up by the Armed Forces Fund Board (LTAT), subject to shareholders’ approval.

The pharmaceutical company said the first private share placement, announced on July 13, 2023, saw the issuance of 131,020,866 new ordinary shares to third-party investors which is aligned with the general mandate granted during Pharmaniaga’s 25th annual general meeting held on June 12, 2023, authorising the board to issue up to 10 per cent of the company’s issued shares.