KUALA LUMPUR: Datuk Seow Gim Shen, Metaco Asset Holdings Sdn Bhd and Bemas Holdings Sdn Bhd, have acquired a 53.27 per cent interest in Rexit Bhd for RM78.4 million, or 85 sen a share, via direct business dealings.
Executive director and chief executive officer Datuk Chung Hon Cheong was one of the sellers, ceasing to be a shareholder of the company.
Rexit Venture Sdn Bhd and Global Hartabumi Sdn Bhd also sold their interests in the company.
Rexit is a key software-as-a-service partner to insurance and unit trust companies.
Seow is chairman of a number of information technology and software services companies, including Titan Pharmaceuticals, Inc, a public company listed on the NASDAQ stock exchange (USA).
Metaco is controlled by a Kong Chien Hoi while Bemas is controlled by a Chung Ching Chi.
The three will now make a mandatory general offer for shares they do not own in Rexit at 85 sen a share.
Trading in the stock was halted earlier pending the announcement.
Its share price was unchanged at 92 sen.
The offerors intend to maintain the listing of Rexit.