KUALA LUMPUR: Trading in the shares of Zetrix AI Bhd has been halted until 10am on Wednesday, in light of the announcement it is acquiring 15.25 million shares in MYEG Ventures Inc for RM130mil in cash and shares.
The digital services firm said in a late-Tuesday filing with the stock exchange it was acquiring the shares from Next Lion Ltd via cash and the issuance of 360.57 million shares in Zetrix AI.
MYEG Ventures has a 60% shareholding in MYEG Philippines Inc, an associate company of Zetrix AI.
Upon completion of the proposed acquisition, MYEG Phillipines Inc will become a subsidiary of Zetrix AI.
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