Citaglobal extends deadline for Zeqna, Koridor Mentari stake acquisitions

PETALING JAYA (July 11): Citaglobal Bhd has extended by one month the deadline to fulfil the conditions precedent for its proposed acquisitions of 70% stakes in Zeqna Corp Sdn Bhd and Koridor Mentari Sdn Bhd.

In a Bursa Malaysia filing yesterday, Citaglobal said the period to fulfil the conditions precedent under the share sale agreements (SSAs) has been extended from July 11 to Aug 10, 2026.

The company said the extension was to provide more time for the parties to complete the remaining conditions precedent and related deliverables set out in the SSAs.

The proposed acquisitions were first announced on Aug 11, 2025 and involve Citaglobal Renewable Energy Sdn Bhd, a wholly owned subsidiary of Citaglobal, acquiring 70% equity interests in Zeqna and Koridor Mentari.

Under the original proposal, Citaglobal Renewable Energy was to acquire 70% of Zeqna for RM15 million and 70% of Koridor Mentari for RM1, subject to the terms and conditions of the respective SSAs.

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