KUALA LUMPUR: Shares in SINO HUA-AN INTERNATIONAL BHD
rose over 11% in early trade following news of its acquisition of HK Aerospace for US$35mil.
The counter, one of the most active on Bursa Malaysia, added 11.11%, or one sen to 10 sen with 33.4 million shares traded.
Sino Hua-An is acquiring Hong Kong’s internet of things (IoT) firm HK Aerospace for US$35mil (RM150.06mil) to strengthen the former’s digital transformation and digital ecosystem solutions.
HK Aerospace is a holding company for IoT and manufacturing operations in China, which holds the intellectual property and global marketing rights of the supercapacitors produced.
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