Pharmaniaga private placement done

PETALING JAYA: Pharmaniaga Bhd has completed a rights issue and regularisation plan, allowing the company to remain on track to exit its practice note 17 or 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 an 8.7% and 35.2% equity stake respectively.