KUALA LUMPUR, Sept 14 — Bursa Malaysia Securities Bhd (Bursa Securities) has dismissed Pharmaniaga Bhd’s appeal to undertake a proposed private placement II.
In a filing to Bursa Malaysia today, Pharmaniaga said since this avenue is now closed, it would consider including the private placement exercise as part of its regularisation plan in accordance with Paragraph 8.04(3) of the Main Market Listing Requirements.
On August 1, Pharmaniaga appealed to Bursa Securities on the latter’s decision not to consider the company’s additional listing application in relation to its proposed private placement II.
The pharmaceutical company said it had planned to place out 144.12 million new shares, representing 10 per cent of the company’s total issued shares, to Lembaga Tabung Angkatan Tentera at an issue price to be determined later. — Bernama
