Hexza said it made a gain of RM17.85mil on the Nvidia shares. — Bloomberg
PETALING JAYA: Hexza Corp Bhd
continued to reweigh its holding in listed equity with the sale of 10,000 shares in Nvidia Corp in the open market on Oct 11 for RM21.8mil and the purchase of 185,000 shares in Symbotic Inc for RM36.7mil on the same day.
According to its filings with Bursa Malaysia, Hexza stated it made a gain of RM17.85mil on the Nvidia shares.
The sale of shares comes a week after Hexza made a gain of RM29.93mil from the sale of 18,000 Nvidia shares in the open market on Sept 29 for RM37mil.
The Nvidia shares were initially purchased between June 9, 2017 and Feb 27, 2023 at an average price of US$93.146 a share, according to Hexza’s past filing with the exchange.
Part of the proceeds from the disposal of shares has been channelled to reinvestment in other quoted shares, namely, Symbotic shares.
Hexza, a property developer and manufacturer of chemicals, had acquired 115,000 Symbotic shares worth RM17.3mil in the open market on Sept 30, 2023.
Hexza added the stake buy will provide a higher return for the company over the long term compared to fixed deposits although the risk is higher.
Hexza’s investment in quoted securities as of Sept 30, 2023 at cost price amounted to RM92.1mil and total book value/total market value stood at RM211.7mil, its past filings revealed. Symbotic is an American robotics warehouse automation company with a leading artificial intelligence-powered robotic and software platform.
