PETALING JAYA: Hextar Capital Bhd’s wholly-owned subsidiary Opcom VC Sdn Bhd (OVCSB) has acquired a 9.8% stake in ACE Market-listed Binasat Communications Bhd
(Binacom) through a series of share purchases.
Binacom is principally involved in support services for satellite, mobile and fibre optic networks, utility infrastructure construction and the engineering, procurement, construction and commissioning of solar facilities, mainly in Malaysia.
In a filing with Bursa Malaysia, Hextar stated OVCSB bought 40 million Binacom shares or a 6.62% stake from Cosmopolitan Avenue Sdn Bhd on June 18 for RM8.4mil or 21 sen per share.
OVCSB signed three additional conditional share sale agreements with Cosmopolitan Avenue, Por Teong Eng and Lim Yao Ying to acquire a further 19.25 million shares or a 3.19% stake in Binacom for RM4.04mil at 21 sen per share.
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