Bursa rejects Pharmaniaga’s appeal for a second standalone private placement proposal

PETALING JAYA: Bursa Malaysia has dismissed financially distressed Pharmaniaga Bhd’s appeal to undertake a second standalone private placement proposal.

In a filing with Bursa Malaysia, the Practice Note 17 (PN17) company said Bursa Malaysia had vide its letter dated Sept 13, 2023, dismissed its appeal submitted on Aug 1, 2023 to undertake the second proposed private placement after taking into consideration the relevant facts and circumstances.