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MyEG’s unit buys 14% stake in HeiTech Padu for RM31 million
Published on: Monday, March 11, 2024
By: Bernama
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MyEG’s unit buys 14% stake in HeiTech Padu for RM31 million
MyEG Services has purchased 14.57 million shares, or 14.4% equity interest in HeiTech Padu via the open market through its subsidiary, MyEG Capital. (Facebook pic)
PETALING JAYA: MyEG Services Bhd’s unit MyEG Capital Sdn Bhd has acquired 14.57 million shares, or 14.4% equity interest in HeiTech Padu Bhd for RM31.24 million to explore potential collaboration in e-government.

MyEG said the share acquisition was done via the open market.

“The acquisition is a strategic investment which will allow the company to explore potential collaborations with HeiTech Padu to create synergies by leveraging on the respective expertise and experience of both parties as established e-government service providers,” it said in a stock exchange filing.

The e-services provider said the acquisition is not expected to have any material effect on its earnings per share or gearing for 2024.

As at 12.30pm, MyEG’s share price was up by 0.5 sen or 0.65% at 78 sen, giving it a market capitalisation of RM5.86 billion.

Meanwhile, HeiTech Padu’s share price rose 48 sen or 19.59% at RM2.93, giving it a market capitalisation of RM296.59 million.

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