Zetrix AI Bhd shares came under heavy selling pressure on Friday, falling 20.4% to 20 sen as of 4pm, as investors digested the technology group’s latest dividend reinvestment plan (DRP) issuance amid a period of heightened corporate activity and share-price volatility.
The latest decline extends a sharp retreat in the counter over recent months. Zetrix AI traded as high as 91 sen in April, putting the stock around 78% below that level at Friday’s 20 sen intraday price. Historical market data show the counter reached an intraday high of 91 sen on April 22.
The counter had already been among Bursa Malaysia’s most actively traded stocks earlier in the day, slipping to 23.5 sen at the midday break.
The latest weakness came as Zetrix AI announced that it will issue 20.52 million new ordinary shares at 67 sen each under its DRP for the company’s final single-tier dividend for the financial year ended Dec 31, 2025.
The new shares are scheduled to be listed on Bursa Malaysia on Sept 21, 2026. The DRP applies to the entire portion of the company’s final single-tier dividend of 2.89 sen per share, allowing participating shareholders to reinvest their dividend entitlement into new Zetrix AI shares.
Following the issuance, the group’s total issued share capital will increase to approximately 8.079 billion shares, with issued share capital of about RM1.487 billion. The total includes 180.90 million treasury shares held as at Sept 17.
The latest development follows several weeks of volatility surrounding Zetrix AI’s proposed RM130 million acquisition of a 50% stake in Philippines-based MYEG Ventures Inc.
The group initially announced the acquisition on Sept 1 before terminating the transaction three days later, citing volatility in the price of Zetrix AI shares that were to form part of the consideration.
Zetrix subsequently revived the proposed acquisition through a new agreement with IPVG Employees Inc, again involving a 50% interest in MYEG Ventures for RM130 million. The revised transaction would increase Zetrix AI’s effective interest in MYEG Philippines Inc to 74.5% and make the Philippine operation a subsidiary upon completion.
The stock has experienced particularly sharp swings since late August. It plunged about 50% in a single session on Aug 28 to 29.5 sen and subsequently traded as low as 17 sen in early September before recovering above 30 sen briefly.
