PETALING JAYA: Bioalpha Holdings Bhd has proposed a RM110mil reduction of its issued share capital as part of a house keeping exercise of its balance sheet.
In a filing with Bursa Malaysia, Bioalpha noted the money will be used to offset its accumulated losses of the company.
"The reduction of accumulated losses is expected to enhance the credibility of both the company and the group with, among others, its bankers, customers, suppliers and investors," the healthcare supplement company said.
Bioalpha current issued share capital amounts to RM186.2mil comprising 1.4 billion ordinary shares.
The Company has 144.47 million outstanding irredeemable convertible preference shares, which will expire on May 17, 2026.
It also has 526.1 million outstanding warrants 2024/2027 at the exercise price of 10 sen each, which will expire on Feb 5, 2027.