Citaglobal Berhad gets shareholder nod for RM42.1M private placement and RM657M KL tower JV

What's the deal? Malaysian-listed Citaglobal BerhadDealroom has a profile for this one. Try Dealroom → has secured shareholder approval at an extraordinary general meeting for two corporate proposals: a private placement and a major property development joint venture in Kuala Lumpur.

The group will issue 46.77 million new shares to Berjaya Securities Sdn Bhd at 90 sen per share, raising roughly RM42.1 million in gross proceeds. The funds will support working capital, repay part of the Gebeng land acquisition, and finance expansion into renewable energy and bioenergy businesses.

Shareholders also greenlit a RM657 million joint-venture tower project in Kuala Lumpur.

The signal: The twin approvals give Citaglobal a dual growth runway — fresh capital for its pivot into clean energy, and a flagship property development to anchor its construction pipeline in one of Southeast Asia's busiest urban centres.

Read more: Lumi News