State-backed life sciences company Malin Corporation said its estimated intrinsic value per share continued to decline in the first half of the year, as the value of key investments fell.
The fall in value has been attributed to the reduced share price of Poseida, the Nasdaq-listed clinical stage biopharma company in which Malin holds a 12 per cent stake, and a reduction in the value of its 15 per cent interest in Viamet, along with foreign exchange movements.
However, the share capital reduction necessary to achieve this buyback must be approved by shareholders and confirmed by the High Court. Malin is holding an extraordinary general meeting in September on the matter.
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