PETALING JAYA: CCM Duopharma Biotech Bhd has secured US$20 million (RM79.4 million) financing from Oversea-Chinese Banking Corporation (Labuan Branch).
It told Bursa Malaysia that the revolving credit-i Murabahah will be used to fund the RM59.16 million acquisition of an 8.39% stake in PanGen Biotech Inc from Chemical Company of Malaysia Bhd.
“Apart from that, the facility will be utilised for general working capital requirement and other investments.”
CCM shares gained 2 sen or 0.6% to close at RM3.40 today on some 307,100 shares done.
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