Quick take: XOX shares up 13% in active trade

  • Stock on the Move
  • Thursday, 27 Aug 2020

KUALA LUMPUR: Shares in XOX Bhd were hotly traded in early trade Thursday with some 805 million shares exchanging hands, making it the most actively traded counter by volume.

The mobile network service provider rose 13.56%, or four sen to 33.4 sen. XOX-WB added 25%, or six sen to 30 sen with 82.6 million shares done.

XOX has formed a strategic collaboration with Alipay Labs (Singapore) Pte Ltd, an affiliate company of Chinese billionaire Jack Ma's Ant Group Co Ltd, to offer blockchain-based solutions in the Asia Pacific region including Malaysia.

Alipay is the largest player in China's 430 trillion yuan third-party mobile payments market, according to the market research firm Qianzhan.

XOX said its wholly-owned XOX Wallet Sdn Bhd had on August 24, entered into an agreement with Alipay for the blockchain solutions.

XOX said the agreement with Alipay would not have any effects on the share capital and shareholding structure of the company.

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XOX. Alipay , XOX Wallet


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