KUALA LUMPUR (Aug 27): Bursa Malaysia's most-active stock XOX Bhd opened up 7.5 sen or 25.42% at 37 sen today after the firm said yesterday its wholly-owned subsidiary XOX Wallet Sdn Bhd signed an agreement with Alipay Labs (Singapore) Pte Ltd for a three-year blockchain-based solutions collaboration.
At 9:21am today, XOX's share price pared gains at 34.5 sen with some 572 million shares traded.
Yesterday, XOX said in a statement to Bursa that Alipay Labs is an affiliate company of Ant Group Co Ltd.
"The agreement shall be effective from Aug 24, 2020 for a period of three years.
"The agreement being incurred in the ordinary course of business is not subject to the approval of the shareholders," XOX said.