Citaglobal Berhad gets shareholder nod for US$10.1M private placement and US$157.1M 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 US$10.1M 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 US$157.1M 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