Sunzen Biotech proposes the acquisition of the remaining 30% equity in Ecolite Biotech and Yanming Resources for a total of RM24 million, to be satisfied through the issuance of approximately 73.22 million new ordinary shares at an issue price of RM0.295 per share.

The acquisition aims to enhance Sunzen's position in traditional Chinese medicines and herbal health foods, contributing positively to its financial performance.

The proposed transaction allows Sunzen to fully consolidate the financial results of Ecolite Group, and the issuance of new shares helps conserve cash for working capital and operational needs.

Sunzen's shares dip 3.33% to 29 sen today, with a market cap at RM209 million.