PETALING JAYA: Globetronics Technology Bhd’s wholly-owned subsidiary, Globetronics (KL) Sdn Bhd has acquired a 30.85% stake in Mpire Global Bhd including warrants for RM44mil cash.
In a filing with Bursa Malaysia, Globetronics noted the stake was acquired from Mayapada Asset Sdn Bhd via open market and off-market transactions.
The shares were purchased at 11 sen per ordinary share and 9 sen per warrant.
Mpire and its subsidiaries primarily operate in property construction and development, fleet management services which include the trading and leasing of motor vehicles, provision of integrated fleet management solutions, and related after-sales services and financing services, catering to both consumer and commercial segments.
Globetronics, a tech firm, stated the Mpire stake buy was a strategic opportunity that aligns perfectly with its commitment to sustained growth and diversification.
The purchase was funded with internally generated funds of Globetronics.