PETALING JAYA: Kenanga Investment Bank Bhd
has increased its equity stake in Kinetic DAX Sdn Bhd (KDX) to 81.70% up from 19%, making the fully licensed and regulated digital asset exchange, a subsidiary of Kenanga.
In a statement, Kenanga said the exercise will strengthen its position as Malaysia’s first and only bank-backed digital asset exchange.
“The transaction was undertaken through the group’s wholly‑owned subsidiary, Kenanga Private Equity Sdn Bhd, as part of a fundraising and capitalisation exercise carried out by KDX.
“Upon completion, Kenanga’s ordinary shareholding in KDX increased to 81.70%.”
It added that 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.
“Additionally, Kenanga will support and accelerate KDX’s next phase of growth with the group’s more well-resourced technology, marketing and governance capabilities.”
