KUALA LUMPUR: Hexza Corp Bhd
has acquired 50,000 ordinary shares of Arm Holdings PLC for RM29.5mil cash in the open market on the Nasdaq Stock Market.
In a filing with Bursa Malaysia, Hexza said the acquisition is non-operational in nature and is undertaken mainly as an alternative to fixed deposits, money market financial products, and unit trusts.
“Hexza invested in quoted securities with the intention of deriving dividend income and for potential capital gains. Hexza purchased these quoted securities after taking into consideration the overall market conditions,” it said.
Arm is a British semiconductor and software design company based in Cambridge, England, whose primary business is the design of central processing unit (CPU) cores that implement the ARM architecture family of instruction sets.
In a separate filing, Hexza said it disposed of 216,394 ordinary shares of Symbotic Inc for RM23mil on the Nasdaq Stock Market.
It said Symbotic shares were purchased between April 28, 2023 and July 26, 2024 at an average cost of US$39.272 per share.
“The proceeds from the disposal will be used for working capital and/or to reinvest in other quoted shares,” it said.
