Kenanga Investment Bank Bhd has raised its stake in digital asset exchange Kinetic DAX Sdn Bhd (KDX) to 81.7%, up from 19%, through a fundraising and capitalisation exercise conducted by its unit, Kenanga Private Equity Sdn Bhd. The value of the investment was not disclosed, according to a statement on Thursday.
Kenanga said the transaction strengthens KDX’s capital position, supporting platform growth, expanding offerings, and advancing strategic initiatives aligned with Kenanga’s broader digital strategy. The bank will also leverage its technology, marketing, and governance capabilities to accelerate KDX’s next phase of growth.
Group managing director Datuk Chay Wai Leong described the move as a major milestone in Kenanga’s digital journey, enabling the integration of new capabilities and the evolution of a technology-driven investment ecosystem.
Kenanga shares closed 0.5 sen lower at 86.5 sen, giving the company a market value of RM636.43 million.
