KUALA LUMPUR (July 31): Jakel Medical Sdn Bhd, a subsidiary of Jakel Capital Sdn Bhd, has emerged as the second-largest shareholder in Pharmaniaga Bhd (KL:PHARMA) after acquiring a 10% stake in the healthcare concessionaire.
The stake, or 655.75 million shares, was acquired through a private placement on Tuesday (July 29), according to Pharmaniaga’s bourse filing on Thursday.
This confirms earlier reporting by The Edge, which noted that the placement shares were priced at 13.5 sen per share.
The private placement exercise raised RM223.7 million through the issuance of 1.66 billion shares, attracting participation from 19 new investors. According to sources, these include Great Eastern, Maybank Asset Management, Pheim Asset Management and shipping tycoon Tan Sri Halim Mohammad.
In a separate statement, Pharmaniaga announced the completion of two key components of its regularisation plan — a rights issue and the private placement — setting the stage for the group to exit its Practice Note 17 (PN17) status by the first quarter of 2026.
The group noted that its rights issue involving 3.46 billion shares was fully subscribed, with an oversubscription rate of 26.14% from existing shareholders.
With the fundraising exercises now concluded, Pharmaniaga will proceed to the final phase of its regularisation plan which involves a capital reduction exercise that is expected to be completed by mid-August.
Lembaga Tabung Angkatan Tentera (LTAT) and Boustead Holdings Bhd remain the group’s major shareholders, with stakes of 8.7% and 35.2%, respectively, or a combined 43.9%.
Jakel Capital had previously become the single largest shareholder of Cypark Resources Bhd (KL:CYPARK) in January 2023, acquiring a 27.33% stake, also via a private placement.
Jakel Capital is the investment arm of Jakel Group, whose core businesses include property development.
Pharmaniaga’s share price surged 41.9% in a single day on July 21 to 22 sen following speculation that Jakel would emerge as a substantial shareholder. The stock later eased to 16 sen amid the rights issue exercise.
Pharmaniaga shares closed at 17.5 sen on Thursday, valuing the group at RM1.15 billion.