Hexza buys 50,000 Arm shares for RM29.5mil as investment

KUALA LUMPUR: Hexza Corp Bhd has acquired 50,000 ordinary shares of Arm Holdings PLC for RM29.5mil cash in the open market on the Nasdaq Stock Market.

In a filing with Bursa Malaysia, Hexza said the acquisition is non-operational and is undertaken mainly as an alternative to fixed deposits, money market financial products, and unit trusts.

“Hexza invested in quoted securities with the intention of deriving dividend income and for potential capital gains. Hexza purchased these quoted securities after taking into consideration the overall market conditions,” it said.

Arm is a British semiconductor and software design company based in Cambridge, England, whose primary business is the design of central processing unit (CPU) cores that implement the ARM architecture family of instruction sets.