KUALA LUMPUR: Dagang Nexchange Bhd
’s (DNeX) rights issue, which closed on July 20, was oversubscribed by 22.64% for the 465.1 million rights shares offered.
In a statement, the information and communications technology firm said it would receive a gross proceeds of RM97.7mil.
DNeX has also announced a special issue involving the issuance of 130 million new shares at 22 sen each.
“All of the special issue shares will be fully subscribed, raising a gross proceeds of RM28.6mil for the group to fund future growth in the information technology (IT) and energy sectors,” it said.
The proceeds of RM97.7mil will be mainly used to finance the group’s acquisitions of OGPC Sdn Bhd and OGPC O & G Sdn Bhd, collectively known as OGPC Group, it said.
DNeX is acquiring OGPC Group for RM170mil, with RM83mil to be paid via cash and RM87mil via new DNeX shares.
Post-completion of the rights and special issues and issuance of new shares to fund the acquisition of OGPC Group, DNeX’s shareholder base will be enlarged to 1.73 billion shares, it said.
Its group managing director, Zainal Abidin Jalil, said moving forward, DNeX would maximise the growth potential of its new energy assets as a new revenue-driver to supplement its e-commerce for trade facilitation and IT services to enhance value to shareholders over the medium to long term.
DNeX is a provider of e-commerce services for trade facilitation, IT consultancy and cybersecurity services. - Bernama
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