This Counter Is Most Actively Traded!

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 Dagang NeXchange Bhd (DNeX) shares and warrants rose and became the most actively traded securities in the Bursa Malaysia trading session this morning following a report by Hon Hai Precision Industry Co Ltd it had bought 120 million shares or 5.03% stake in the company for RM108 million.


At 10.18am, shares of DNeX jumped three sen or 3.51% to 88.5 sen while the company's warrants gained 3.5 sen or 11.48% to 34 sen.


DNeX shares and warrants saw approximately 214 million as well as 101 million securities traded.


DNeX's share price at 88.5 sen makes the company's market capitalization worth about RM2.11 billion.



According to a DNeX notification to Bursa Malaysia yesterday, the company owns 2.38 billion issued shares following the conversion of the firm's warrants to 924,800 new shares in DNeX.


Several news reports citing the Taiwan Stock Exchange, said Hon Hai or known as Foxconn Technology Group globally, had bought shares of DNeX through its Singapore -based subsidiary, Foxconn Singapore Pte Ltd.


“Hon Hai bought DNeX shares from three major shareholders, namely 22.64 million shares from Annedjma Capital Sdn Bhd for RM20.38 million; 96.36 million shares from Azman Karim with a price of RM86.72 million and one million shares from Arcadia Acres Sdn Bhd with a price of RM900,000, ”said The Edge report.


There is speculation that DNeX's 5.03% stake will pave the way for Hon Hai to acquire a stake in semiconductor manufacturer SilTerra Malaysia Sdn Bhd.


DNeX has a 60% stake in SilTerra and some sources say Hon Hai is only interested in SilTerra shares.

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