Kuala lumpur: 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.

According to BERNAMA News Agency, the pharmaceutical company stated that the exercise involves consolidating every five existing shares into one. This move aims to improve share price stability, enhance its trading profile, and strengthen 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 about 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.

Pharmaniaga managing director Datuk Zulkifli Jafar emphasized that the group is now focused on strengthening its capital market profile while executing the next phase of sustainable growth. He highlighted that the exercise is expected to contribute towards a more stable trading environment by improving overall trading dynamics. The exercise is anticipated to present a stronger reflection of the company's financial position and stability.

Zulkifli further noted 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 remains 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, aiming for RM300 million in profit after tax and a market capitalisation of at least RM3 billion by 2030.