On March 22, 2019, Kenanga Investors Berhad announced that it had entered into a conditional share purchase agreement to acquire Libra Invest Berhad. Pursuant to the agreement, Kenanga Investors Berhad (“Kenanga”) will acquire the entire issued share capital of Libra Invest Berhad (“Libra Invest”). Kenanga will acquire Libra Invest for a provisional purchase consideration of RM50.1 million subject to adjustments based on certain financial measures. Further terms of the deal were not disclosed.
Kenanga is the asset management subsidiary of Kenanga Investment Bank Berhad and provides investment solutions including collective investment schemes, portfolio management services, ETFs, financial planning and alternative investments.
Libra Invest is an asset management company specializing in fixed income. Libra Invest is the fund management arm of ECM Libra Financial Group Berhad.
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