Shenzen company to take up block of shares in Securemetric

Scomi Group Bhd surprised investors when it proposed to revise its current issued share capital reduction from RM224.96mil to RM3mil from the earlier RM40mil.

KUALA LUMPUR: China's Feitian Technologies is keen to take up a block of shares in ACE Market listed Securemetric Bhd, which focuses on digital security.

It was learnt the Shenzen-based Feitan's Hong Kong unit would be taking up 20 million shares in Securemetric. The investment consideration is said not exceeding 13.45 million renminbi (RM8.14mil).

Securemetric's paid-up is 243.60 million shares and the 20 million shares will account for 8.21% stake.

Feitian's board of directors had on Feb 14, 2019, reviewed and approved the proposed investment in Securemetric, whose main business is digital security products and solutions. 

Listed on Nov 13, 2018, Securemetric it focuses on software licensing protection, two-factor authentication, advanced identity and access management, public key infrastructure and cryptography. 

As for Feitian Technologies, it is the top supplier of user authentication and transaction security for China's online banking. 

At 11.50am, Securemetric shares are up three sen to 53.5 sen with over 14 milion shares done.