Rex Industry (KLSE:REX) signed a conditional deal to dispose of its entire stake in Rex Canning, and Rex Trading, for 40 million ringgit in cash, according to a Wednesday Malaysian bourse filing.
Shares gained about 3% in Thursday's midday trade.
The stake will be sold to the group's executive director and Group Managing Director, Darmendran Kunaretnam.
The proposed sale is expected to be completed in the second half of 2025, it added.
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