Zetrix AI Bhd shares jumped 16.67% to RM0.280 as of 10.44 am, rebounding after trading in the counter was suspended the previous day following a Bursa Malaysia query over its proposed RM130 million acquisition of a 50% stake in MYEG Ventures Inc.
The stock opened at RM0.245 and climbed as high as RM0.290 before easing to RM0.280. It had closed at RM0.240 previously, giving it a gain of RM0.040.
Trading activity was also brisk, with 549.33 million shares changing hands. The counter recorded a low of RM0.245, while the buy price stood at RM0.280 and sell price at RM0.285.
The strong rebound came after Zetrix AI clarified that the acquisition would raise its effective interest in MYEG Philippines Inc to 74.5%, comprising its existing 49% direct stake and a 25.5% indirect interest through MYEG Ventures.
Zetrix AI had earlier incorrectly stated that MYEG Ventures held 60% of MYEG Philippines, before correcting the figure to 51%.
The proposed acquisition involves 15.25 million MYEG Ventures shares, representing the seller’s entire 50% stake. Zetrix AI said the RM130 million consideration would be funded through a combination of new shares and cash.
The company plans to issue up to 360.57 million new ordinary shares, with the issue price to be determined based on the five-day volume-weighted average market price immediately before issuance.
