×

Cyberjaya, 20 May 2021 – Dagang NeXchange Berhad (“DNeX”) has concluded its Extraordinary General Meeting today and the resolution on the proposed private placement of up to 30 per cent of its total issued shares (“Proposed Private Placement”) was approved by the shareholders.

Potential proceeds raised from the Proposed Private Placement will be channelled to fund the proposed acquisition of SilTerra Malaysia Sdn Bhd (“SilTerra”) while the balance will be used for other business expansion or investments.

To recap, DNeX and Beijing Integrated Circuit Advanced Manufacturing and High-End Equipment Equity Investment Fund Center (Limited Partnership) (“CGP Fund”) had signed a share sale and purchase agreement (“SSPA”) with Khazanah Nasional Berhad (“Khazanah”) to acquire 100 per cent stake in Khazanah’s semiconductor unit, SilTerra Malaysia Sdn Bhd (“SilTerra”) for RM273.0 million on 31 March 2021.

Based on the SSPA, DNeX will acquire a 60 per cent equity interest in SilTerra while CGP Fund will acquire the balance 40 per cent equity interest. The purchase consideration for DNeX’s 60 per cent stake will amount to about RM163.8 million, which will be funded through a combination of proceeds to be raised from a proposed private placement, internally generated funds and/or borrowings. DNeX and CGP Fund have also committed to a capital injection of at least RM200 million by way of subscribing for new ordinary shares to be allotted and issued by SilTerra.

“The enlarged share capital base and cash reserve will put DNeX on a stronger footing as we aggressively grow the Group into a competitive technology solution provider in the global market. The proceeds raised will allow us the liquidity and flexibility to pursue attractive investment opportunities that could potentially unlock more value to the Group. We will be exploring for technology-related assets that could deliver synergistic benefits to our Group as we aim to achieve multiplier effects on the investments that we embark on,” said Dato’ Sri Syed Zainal Abidin Syed Mohamed Tahir, Group Managing Director of DNeX.

“Additionally, through the fund raising exercise, we look forward to welcome more strategic investors to the Group who not only provide us with the additional funding but also add value in accelerating our expansion plans,” he said.

The placement shares will be issued at a price of not more than 20 per cent to the five-day volume weighted average market price (“VWAP”) of DNeX shares immediately preceding the price-fixing date. The Proposed Private Placement entails the issuance of up to 891.6 million shares to third-party investors at an issue price that will be determined and announced at a later date.

Dato’ Sri Syed Zainal Abidin Syed Mohamed Tahir,Group Managing Director of DNeX said the enlarged share capital base and cash reserve will put DNeX on a stronger footing as it aggressively grows into a competitive technology solution provider in the global market.

Latest News

Get updates and announcements from Dagang Net

View All

Read more +29 November 2022

POSTPONEMENT: IMPLEMENTATION OF NEW SPECIAL TREATMENT CODE / NEW TRANSACTION TYPE FOR GOODS UNDER COMPREHENSIVE AND PROGRESSIVE AGREEMENT FOR TRANS-PACIFIC PARTNERSHIP (CPTPP) – PDK 2022

The implementation of new special treatment code / new transaction type for goods under Comprehensive and Progressive Agreement for Trans-pacific Partnership (CPTPP) in the Sistem Maklumat Kastam (SMK) is postponed until further notice.
Read more +25 November 2022

DNeX off to a strong start in FY2023 with RM419.6 million in revenue and RM68.3 million in profit after tax in first quarter

Cyberjaya, 25 November 2022 – Dagang NeXchange Berhad (“DNeX”) has recorded solid performance in its financial results for the first quarter ended 30 September 2022 (“1Q FY2023”).
Read more +25 November 2022

ANNOUNCEMENT : IMPLEMENTATION OF ELECTRONIC SIGNATURE AND SEAL THROUGH THE EPCO SYSTEM FOR CPTPP, ACFTA, AIFTA, MICECA AND MTFTA

Please be inform that, MITI will implement electronic endorsement of the Preferential Certificate of Origin (PCO) by electronically affixed signature and official seal through the ePCO system for CPTPP, ACFTA, AIFTA, MICECA and MTFTA. The PCO approved for the abovementioned FTAs will be electronically endorsed and exporter will no longer be required to do a manual endorsement.
TOP