JAKARTA. PYFA Australia Pty Ltd (PAPL), an entity under PT Pyridam Farma Tbk (PYFA), has secured extra capital of USD 99.57 million or equal to approximately IDR 1.07 trillion (using currency exchange rate of IDR 10,777 per AUD).

Said capital injection was given through Pyfa Health Singapore Pte Ltd (PHSG), a subsidiary of PYFA that has a direct control over PAPL’s shares. The capital is channelled alongside the issuance of new shares by PAPL of 99.57 million shares.

“It is taken over entirely by PHSG, following the Circulating Resolutions of the Directors of PAPL dated June 7, 2024,” said the management of PYFA in the official statement.

The capital increase is a follow-up to the funding for the plan of acquiring Probiotec Limited, a pharmaceutical company in Australia. This acquisition plan itself was revealed in December 2023.

“PAPL will utilise said proceeds to conduct most funding activities for the acquisition plan (of Probiotec),” said the management of PYFA.

The fund source used by PHSG for this extra capital injection to PAPL is not disclosed. However, according to IDNFinancials data, PYFA only scored cash and cash equivalent of IDR 452.65 billion as of March 31, 2024. (KR/ZH)