Hexza Corporation has disposed of the 10000 ordinary Nvidia shares it purchased on Nasdaq for RM21 million and has acuired 185,000 ordinary shares of SYMBOTIC Inc for a total gross cash sum of USD7,766,616 or RM36,720,563 (“Purchase
Consideration”) in the open market on the Nasdaq Stock Market.
NVIDIA shares were purchased between 9 June 2017 and 27 February 2023 at an average cost of USD93.146 per NVIDIA share. The total gain on the disposal of NVIDIA shares is RM17.85 million.
Symbotic is an American robotics warehouse automation company based in Wilmington, Massachusetts. Symbotic is an automation technology leader reimagining the supply chain with its end-to-end, A.I.-Powered robotic and software platform.
Symbotic reinvents the warehouse as a strategic asset for the world’s largest retail, wholesale, and food & beverage companies. Applying next-generation technology, high-density storage, and machine learning to solve today’s complex distribution challenges, Symbotic enables companies to move goods with unmatched speed, agility, accuracy, and efficiency.
As the backbone of commerce, Symbotic transforms the flow of goods and the economics of the supply chain for its customers.
Hexza said the purchases of quoted securities are non-operational in nature and are undertaken mainly as an alternative to fixed deposits, money markets financial products, and unit trusts. HEXZA invested in quoted securities with the intention of deriving dividend income and potential capital gains. The group said it purchased the quoted securities after taking into consideration the overall market conditions.
