XOX emerges as substantial shareholder in M3 Technologies

XOX emerges as substantial shareholder in M3 Technologies
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KUALA LUMPUR (May 12): XOX Bhd has emerged as a substantial shareholder in loss-making M3 Technologies (Asia) Bhd (M3 Tech) with a 5.92% equity stake.

According to its latest filing to Bursa Malaysia, XOX bought two million shares in M3 Tech last Thursday (May 5). This has raised XOX's shareholding in M3 Tech to 11.69 million shares, or a 5.92% stake.

M3 Tech's share price has nearly doubled from 10.5 sen on March 7 to 20.5 sen today, with a market capitalisation of RM39.9 million.