KUALA LUMPUR (March 19): Kenanga Investment Bank Bhd (KL:KENANGA) has increased its stake in digital asset exchange Kinetic DAX Sdn Bhd, better known as KDX, to 81.7% from 19%.

The stake increase by its unit, Kenanga Private Equity Sdn Bhd, was done via a fundraising and capitalisation exercise by KDX, according to a statement on Thursday. The value of Kenanga’s increased investment in the digital asset exchange was not disclosed.

“The enhanced capital position following the transaction will support KDX’s continued growth and resilience, including scaling its platform, expanding its range of offerings, and advancing strategic initiatives aligned with Kenanga’s broader digital strategy,” Kenanga said.

“Additionally, Kenanga will support and accelerate KDX’s next phase of growth with the group’s more well-resourced technology, marketing and governance capabilities,” it added.

Kenanga group managing director Datuk Chay Wai Leong said the group looks forward to accelerating innovation, strengthening market infrastructure and delivering long-term value for investors by bringing KDX directly into Kenanga.

“This step marks a significant milestone in Kenanga’s digital journey, allowing us to further integrate new capabilities and drive the evolution of a technology-driven investment ecosystem,” he added.

Shares in Kenanga ended half a sen or 0.57% lower at 86.5 sen, valuing the group at RM636.43 million.