KUALA LUMPUR (Oct 4): Hexza Corporation Bhd has disposed of 18,000 shares in American multinational technology company NVIDIA Corp for a total gross cash sum of US$7.90 million (RM37.07 million).
In a Bursa Malaysia filing on Wednesday, the chemical based manufacturer company said it invested in NVIDIA with the intention of deriving dividend income and for potential capital gains.
“Hexza disposed of these quoted securities to lower the company’s risk of exposure to a single high value counter, after taking into consideration the overall market conditions of NVIDIA shares.
“The proceeds from the disposal will be used for working capital and/or to reinvest in other quoted shares,” it said.
Following the shares disposal in NVIDIA, Hexza is expected to gain RM29.93 million.
Acquires 115,000 shares in US robotics automation firm SYMBIOTIC for RM17.31 mil
Meanwhile, in a separate bourse filing, Hexza announced the acquisition of 115,000 shares of American robotics warehouse automation company SYMBIOTIC Inc, for a total gross cash sum of US$3.72 million (RM17.31 million).
According to the group, the shares were purchased in the open market at prevailing prices, as quoted on the respective exchanges at the time of purchase.
The purchase was funded by internally generated funds.
Shares in Hexza ended unchanged at 93 sen on Wednesday, giving it a market capitalisation of RM185.36 million.
Since the beginning of the year, the stock has risen by 17.72%.