KUALA LUMPUR, Malaysia (July 9): Datuk Wira Dr Azizan Osman, a key shareholder in ManagePay Systems Bhd (MPay), purchased an extra 45 million shares in the firm through his company Richworks International Capital Holdings Sdn Bhd. The shares were obtained through a private placement, according to a filing with the exchange.
The fourth tranche of the private placement, consisting of 45 million shares, was priced at 28 sen per share, equating to a total of RM12.6 million, according to another filing on July 1.
The exercise was launched in July of last year, with the firm looking to collect funds to cover costs associated with a financial technology platform as it prepared to apply to Bank Negara Malaysia for a digital banking license (BNM).
With his earlier 44 million share acquisition on June 18, he now owns 10.58 percent of the company, or 89 million shares. Datuk Chew Chee Seng, the company’s founder and managing director, is the largest stakeholder.
MPay claimed in a statement that Azizan increased his investment in the company in light of the company’s bid for the digital bank license.
MPay, in collaboration with its strategic partners Trustgate Bhd, Crescent Capital Sdn Bhd, and Richworks International Sdn Bhd, applied for the license on June 30.
It stated that if the application is approved, the three partners have pledged to invest up to 45 percent of their combined stock in MPay.
MPay’s stock increased 0.5 sen, or 2%, to 25 sen today, valuing the company at RM199.07 million./n
