Pharmaniaga Bhd says it will now consider including the second private placement exercise as part of its PN17 regularisation plan.
In a filing with Bursa Malaysia today, the Practice Note 17 status company said since this avenue is now closed, it would consider including the private placement exercise as part of its regularisation plan. On July 27, Bursa Securities informed Pharmaniaga it was unable to consider its proposed second private placement of new shares to the Armed Forces Fund Board . The regulator instead recommended that the private placement be integrated as part of its regularisation plan.
Based on the indicative issue price of 35.6 sen for the 140.45 million shares to be placed out, the second placement was expected to raise proceeds of about RM50 million.
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