Pharmaniaga Bhd managing director Zulkifli Jafar. — AZLINA ABDULLAH/The Star
PETALING JAYA: Pharmaniaga Bhd
has completed a rights issue and a regularisation plan, allowing the company to remain on track to exit its PN17 status by the first quarter of 2026.
In a statement, the company said a total of 3.46 billion renounceable rights shares were fully subscribed, with an oversubscription rate of 26.14%, reflecting strong support and confidence from existing shareholders.
“Meanwhile, the private placement exercise attracted 19 new investors, involving 1.66 billion placement shares at a total value of RM223.7mil.”
Despite this new equity injection, Pharmaniaga said Lembaga Tabung Angkatan Tentera and Boustead Holdings Bhd remain the group’s major shareholders at an aggregate shareholding of 43.9%, each holding 8.7% and 35.2% equity stake respectively.
“Pharmaniaga remains a government-linked company, with continued emphasis on national interest and the well-being of the Malaysian Armed Forces.”
Pharmaniaga managing director Datuk Zulkifli Jafar said the oversubscription of the rights issue reflects “deep market recognition of our business fundamentals, recovery plan and leadership.”
“The group also views the participation of the 19 new institutional and reputable investors in the private placement exercise as a clear endorsement, that aligns with our broader objective of contributing to Malaysia’s healthcare resilience and pharmaceutical self-sufficiency, a shared national aspiration,” he said.
As both fundraising exercises have been completed, the group is set to conclude the final phase of its regularisation plan, the capital reduction exercise which is targeted for completion by mid-August 2025.
“This marks a major step forward in Pharmaniaga’s recovery and efforts to exit PN17 status by the first quarter of 2026,” said Zulkifli.
He added that this strengthened balance sheet enables the group to reduce borrowings and scale up our operations, especially in high-impact areas such as development of human insulin, vaccines and other generic drugs.
“We are currently advancing the development of Malaysia’s first locally owned insulin and vaccine production facilities.”
