Kenanga Investment Bank continues to have a fully owned company, Kenanga Private Equity Sdn Bhd, in its latest report, has signed a conditional agreement to acquire 19% shares of Tokenize Malaysia.
This ownership aims to further enhance the digital asset buyer agenda.
For your knowledge, Tokenize Malaysia controls Tokenize Xchange, a online exchange platform for buying and selling cryptocurrencies such as Bitcoin and Ethereum, which operates all year round.
However, the report is not accompanied by the actual amount that Kenanga Private Equity paid and from whom the shares were acquired.
Tokenize Malaysia is one of the three crypto exchanges approved by Suruhanjaya Sekuriti Malaysia (SC) and is the second largest exchange in Malaysia by market share traded.
As of Jun 2019, Tokenize Malaysia has been granted the recognized market controller status (Recognized Market Operator, RMO) by SC and its platform, Tokenize Xchange was first broadcast live in April 2020.
Kenanga Investment Group Affairs Director, Datuk Chay Wai Leong said that for the time being, they are reactivating the digital ecosystem to offer their customers a spectrum of financial products and services, including a variety of digital assets.
Meanwhile, CEO of Tokenize Malaysia, Hong said that the technology development behind digital assets is getting stronger and its future growth is something that cannot be avoided.
In the midst of this, Kenanga Investment's share price increased by 9 cents (5.52%) to RM1.72 with market capital breaking out at RM1.23 billion.
