Last updated on August 23, 2025
KUALA LUMPUR (Aug 6): Pharmaniaga Bhd has completed its regularisation plan after finalising a RM520 million capital reduction.
The reduction, which took effect on Tuesday, lowered the pharmaceutical group’s issued share capital to RM249.62 million, according to its filing with Bursa Malaysia on Wednesday.
“MBSB Investment Bank wishes to announce that the regularisation plan has been completed following the capital reduction,” the group said in a separate filing.
This capital reduction marked the final phase of the plan, aimed at erasing the group’s accumulated losses of RM441.83 million as at end-March.
Earlier, the group had undertaken a 3.46 billion-share rights issue and a RM223.7 million private placement, which saw Jakel Capital Sdn Bhd emerge as its second-largest shareholder with a 10% stake.
With the plan now completed, Pharmaniaga is set to work towards exiting its Practice Note 17 (PN17) status, a target it aims to achieve by the first quarter of 2026.
The regularisation process began in November 2023 and was later revised to exclude warrants from the rights issue, while increasing the capital reduction amount from RM180 million to RM520 million.
Pharmaniaga shares closed unchanged at 18.5 sen on Tuesday, valuing the company at RM1.21 billion.
