KUALA LUMPUR: Japanese online broker SBI Japannext Co Ltd has acquired a strategic investment stake in N2N Connect Bhd from its founder and managing director Andrew Tiang Boon Hwa in a RM91.4mil deal. Filings with Bursa Malaysia showed Andrew Tiang sold 65.276 million shares in the company for RM1.40 each in a direct business transaction. Shares in N2N Connect were last traded at 89.5 sen on Wednesday. The company, in a statement on Wednesday, said the entry of SBI Japannext as a strategic partner will open up opportunities for collaboration in developing alternative trading systems (ATS) for the Asian region. "Both Japannext and N2N will be working with local regulators of each jurisdiction, on the potential of setting up ATS, which in turn, will benefit the regional capital markets landscape in Asia," it said.

Source: The Star December 26, 2018 12:33 UTC