Evergreen Max Cash Capital (KLSE:EMCC) withdrew its application to Bursa Securities for an extension of time to proceed with its planned private placement, according to a Friday Malaysian bourse filing.
Shares dropped about 3% in Monday's midday trade.
The move came after potential investors indicated they would only consider subscribing in the first half of 2026, depending on market conditions.
The company also reviewed its funding needs and noted it has other financing options besides the private placement.
As a result of the withdrawal, the Bursa Securities approval for the private placement will expire on Nov. 24, it said.
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