SBI Japannext acquires 11.65% of N2N Connect

By Arjuna Chandran Shankar - December 26, 2018

KUALA LUMPUR (Dec 26): Japanese online broker, SBI Japannext Co Ltd has bought an 11.65% stake in N2N Connect Bhd, allowing both parties more opportunities to collaborate in the development of alternative trading systems for the Asian region, particularly in cross-border trading.

“The collaboration between Japannext and N2N will open up new opportunities for both entities through the promotion of more trading activities in the region while encouraging greater uptake of cross-border trading,” N2N said in a statement.

It said its Asia Trading Hub spanning South-east Asian countries such as Malaysia, Thailand, Indonesia, Singapore, Vietnam and the Philippines, as well as other markets in Asia namely, Hong Kong and Macau, provides its Japanese partner a platform to boost regional interest in Japanese equities and bonds through the former’s proprietary trading system.

At the same time, existing customers of N2N Connect “will have the opportunity to tap into the liquidity pool in Japan by promoting Asian markets to Japanese investors.”

N2N closed 1.5 sen or 1.71% higher at 89.5 sen, with 318,900 shares traded. Its market capitalisation stands at some RM544.46 million.

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