KUALA LUMPUR: Bio Osmo Bhd has placed out 43.3 million placement shares to identified investors in five tranches, raising a total of RM8.66 million.

This follows the listing of the final tranche of its 11.5 million placement shares on the Main Market of Bursa Malaysia. “The board does not intend to place the remaining placement shares to potential investors. As a result, the private placement is deemed completed today (yesterday),” said Bio Osmo in a filing with Bursa.

Bio Osmo had earlier planned to place up to 48 million shares, constituting up to 10% of its issued base to third-party investors in an effort to raise funds for the firm’s working capital needs.

This article first appeared in The Edge Financial Daily, on October 15, 2014.