KUALA LUMPUR: Anzo Holdings Bhd director Datuk Eddie Chai Woon Chet has continued his shopping spree for shares in XOX Bhd with a purchase of seven million shares.
In a filing with Bursa Malaysia on Monday, XOX said that Chai, who is also a director of M3 Technologies (Asia) Bhd, raised his stake in the company to 5.68 per cent.
XOX did not disclose how much Chai paid for the shares.
Shares of XOX surged three sen to 32 sen in afternoon trade yesterday.
The stock closed 2.5 sen higher at 30.5 sen from last Friday's closing at 29 sen. Some 616.3 million shares were traded.
Last Friday, Chai bought 4.1 million XOX shares, raising his stake in the company to 5.35 per cent.
He has been on a buying spree lately.
Last week, he launched a mandatory takeover offer for Oversea Enterprise Bhd (OEB), which owns and operates the Chinese restaurant chain under the name Oversea.
OEB said Chai was buying a 62.37 per cent stake or 151.3 million shares for RM45.38 million from its substantial shareholders.
They are Yu Soo Chye @ Yee Soo Chye, Yu Tack Tein, Simple Angel Capital Sdn Bhd, Lee Lim & Sons Sdn Bhd and Khong Yik Kam.
Chai told the New Straits Times that he was buying a major stake in OEB in his personal capacity.
He was tight lipped when asked if he would increase the number of Oversea outlets in Malaysia, or whether he would inject new food-related business to turn around the group.
OEB operates in three segments namely restaurant, where it owns and operates five Chinese outlets under the name Oversea, manufacturing and wholesale of baked products like moon cakes and investment holding.