ViTrox surges to two-year high post-bonus issue, after being associated with Nvidia and Foxconn

TheEdge Tue, Jun 11, 2024 08:31pm - 1 week View Original


KUALA LUMPUR (June 11): Shares of ViTrox Corp Bhd (KL:VITROX) climbed as much as 19% on Tuesday, extending a rally after being associated with Nvidia Corp and Foxconn Industrial Internet Co Ltd.

By market close on Tuesday, ViTrox pared some gains to settle at RM4.85, up 60 sen or 14%, giving it a market capitalisation of RM9.17 billion.

The latest closing price was the stock’s highest since Jan 7, 2022, after adjusting for ViTrox’s one-for-one bonus issue, which went ex on Monday (June 10).

Penang-based ViTrox is a producer of machinery and equipment designed to automate the rigorous testing of semiconductor devices.

Notably, in Nvidia Corp chief executive officer Jensen Huang’s keynote address at Computex Taipei, ViTrox was shown as one of the key players of edge artificial intelligence (AI) and robots in the factory ecosystem of Foxconn Industrial Internet.

A subsidiary of Hon Hai Precision Industry Co Ltd, Shanghai-listed Foxconn Industrial Internet is involved in cloud and edge computing, industrial internet, smart home solutions, 5G and network communication equipment, as well as smart mobile devices and wearables.

“We are proud to be an associate of the supply chain and are fully committed to delivering the most advanced, innovative and cost-effective vision inspection, AI and robotic solutions.

"ViTrox will continue to work hand-in-hand with all industry players towards making a net-positive impact on the world,” ViTrox said in a Facebook post last Friday (June 7).

Nvidia CEO Jensen Huang giving his keynote address at Computex Taipei (Photo credit: ViTrox's Facebook page)

Huang delivered his keynote address on June 2, and ViTrox shares climbed 2.2% on the first trading day (June 4) after that.

The counter made incremental increases over the next three trading days through June 7, before gaining another 7% on Monday.

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