Kronologi Asia's share price rise 2.51% after shareholders approve acquisition

PETALING JAYA: Kronologi Asia Bhd, whose shareholders approved its acquisition of Quantum Storage (Hong Kong) Ltd, saw its share price rise 2.51% this morning.

At 10.56am, its share price was 2.5 sen or 2.51% higher at RM1.02 with a total of 3.01 million shares traded. The stock closed 1.5 sen lower yesterday at 99.5 sen with some 1.9 million shares changing hands.

The enterprise data management firm received approval from its shareholders to acquire Quantum Storage for RM45 million at its EGM yesterday.

The acquisition is expected to be completed by the fourth quarter this year and will contribute positively to the group’s financial performance next year.