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N2N surges to 10-year high on entry of SBI

Mimi Sabreena 3:03:00 PM Informasi

KUALA LUMPUR (June 14): Shares in N2N Connect Bhd rose as much as 4.06% to RM1.28 today — the highest in nearly 10 years — after Japanese financial services firm SBI Holdings Inc emerged as a substantial shareholder.

According to an N2N bourse filing today, the e-commerce securities trading solutions provider had placed out 52.04 million new shares to SBI yesterday, representing a 9.091% stake in N2N.

On June 6, N2N had announced plans to raise RM65.05 million via a private placement to Tokyo-based SBI at an issue price of RM1.25 per share.

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