Zetrix AI revives RM130mil MyEG Ventures deal
KUALA LUMPUR: Zetrix AI Bhd has launched a fresh RM130 million bid for a 50 per cent stake in MyEG Ventures Inc on the same day it terminated an earlier agreement to buy the stake.
Zetrix AI has announced a new bid of RM130 million for a 50% stake in MyEG Ventures Inc, following the termination of an earlier agreement with Next Lion Ltd. The new deal involves IPVG Employees Inc, which will first purchase a 40.6% stake from the remaining shareholders before selling its entire 50% stake to Zetrix AI. The acquisition comes with several layers of indirect interest, ultimately raising Zetrix AI's effective stake in MYEG Philippines to 74.5%.
The RM130 million will be raised through new share issuance and internal funds, with the issue price offering a 4.1% discount to Zetrix AI's recent market price. The acquisition aims to strengthen Zetrix AI's presence in the Philippines, expand its operations, and benefit from potential synergies and economies of scale. Upon completion, Zetrix AI's share capital will increase, potentially improving net assets and earnings per share in the upcoming financial year. The deal is subject to certain conditions and is expected to be finalized by the end of Q3 2026.
Written by urgent.news from New Straits Times's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
