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PUC Shares Skyrocket 50% on Planned Acquisition of GenieX Lab

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PUC (KLSE:PUC) G Universe will acquire a 100% stake in IT specialist GenieX Lab for 1 million ringgit in cash, according to a Wednesday Malaysian bourse filing.

Shares surged 50% in Thursday's midday trade.

The company will buy the stake from Robinhood Ventures.

GenieX Lab, incorporated in July 2025, operates in IT services including computer consultancy and systems management, and is being positioned for fintech and digital infrastructure development within the group's ecosystem.

The acquisition is part of PUC's strategy to strengthen its financial technology and AI-linked capabilities through full ownership under G Universe.

PUC will fund the deal internally, it said.

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