KUALA LUMPUR, May 19 (Bernama) -- Pharmaniaga Bhd today secured shareholder approval for its proposed five-for-one share consolidation at the group’s extraordinary general meeting (EGM), with completion expected in early June 2026.
In a statement, the pharmaceutical company said the exercise involves the consolidation of every five existing shares into one, aimed at improving share price stability, enhancing its trading profile and strengthening its appeal to institutional and long-term investors.
"Currently, Pharmaniaga has approximately 6.56 billion issued shares. Upon completion of the proposed share consolidation, the number of issued shares will be reduced to approximately 1.31 billion shares.
"Based on a reference share price of RM0.24, the theoretical adjusted share price would be RM1.20 per consolidated share," it said.
Pharmaniaga managing director Datuk Zulkifli Jafar said the group was now focused on strengthening its capital market profile while executing the next phase of sustainable growth.
He said the exercise was expected to contribute towards a more stable trading environment by improving overall trading dynamics.
“The exercise is expected to present a stronger reflection of the company’s financial position and stability.
"With a healthier balance sheet, sustained financial performance and improved market positioning, the group believes this will support stronger investor confidence and better position Pharmaniaga alongside more established industry peers,” he said.
Zulkifli also emphasised that the exercise would not alter the group’s overall market capitalisation or the total value of shareholders’ investments, except for minor adjustments arising from fractional entitlements, if any.
He added that the group remained firmly guided by its Vision ONE30 strategic roadmap, which outlines Pharmaniaga’s ambition to become Malaysia’s most valuable pharmaceutical company by 2030.
“Vision ONE30 provides a clear roadmap for Pharmaniaga to strengthen its core businesses, advance its biopharmaceutical capabilities and enhance operational efficiency, as it works towards achieving RM300 million in profit after tax and a market capitalisation of at least RM3 billion by 2030,” he said.
-- BERNAMA
