VCI Global Engaged As Sagtec Group Sdn Bhd’s IPO Consultant and Business Expansion Consultant
16 June 2023 - 10:18PM
VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”)
today announced that its wholly owned subsidiary, V Capital
Consulting Limited (“VCCL”) has been appointed as Sagtec Group Sdn
Bhd’s (“SAGTEC”) initial public offering (“IPO”) consultant. This
is in conjunction with SAGTEC’s proposed listing on the NASDAQ
stock market. This IPO advisory mandate entails a USD2 million
advisory fee and a success fee of 5% of the market capitalisation
of SAGTEC when listed.
As the IPO consultant, VCCL’s scope of work,
amongst others, includes:-
- review and assist with the
reorganization of SAGTEC’s capital structure;
- establish capital market strategies
to maximize SAGTEC’s value ahead of the listing exercise;
- where applicable, review and assist
in responding to queries from U.S. Securities and Exchange
Commission and NASDAQ; and
- prepare and assist in obtaining all
requisite regulatory approvals.
VCCL’s consultancy expertise was further sought
as SAGTEC also appointed VCCL as its business expansion consultant
in connection with SAGTEC’s plans to expand its business into the
Southeast Asia region.
On this note, VCCL will conduct feasibility
studies and competitive analysis to understand the competitive
landscape within the said region. As part of its job scope, VCCL
will also be developing customised market strategies that
complement SAGTEC’s business goals on the back of the unique
dynamics of the Southeast Asia region.
“We are truly honoured to be awarded not one but
two consultancy jobs by SAGTEC. We are more than happy to provide
our expertise to ensure the successful listing of SAGTEC on
NASDAQ,” said Dato’ Victor Hoo, Group Executive Chairman and Chief
Executive Officer of VCI Global.
About VCI Global Limited
VCI Global is a multi-disciplinary consulting
group with key advisory practices in the areas of business and
technology. The Company provides business and boardroom strategy
services, investor relation services, and technology consultancy
services. Its clients range from small-medium enterprises and
government-linked agencies to publicly traded companies across a
broad array of industries. VCI Global operates solely in Malaysia,
with clients predominantly from Malaysia, but also serves some
clients from China, Singapore, and the US.
For more information on the Company, please log
on to https://v-capital.co/.
Cautionary Note Regarding
Forward-Looking Statements
This press release contains forward-looking
statements that are subject to various risks and uncertainties.
Such statements include statements regarding the Company's ability
to grow its business and other statements that are not historical
facts, including statements which may be accompanied by the words
"intends," "may," "will," "plans," "expects," "anticipates,"
"projects," "predicts," "estimates," "aims," "believes," "hopes,"
"potential" or similar words. Actual results could differ
materially from those described in these forward-looking statements
due to certain factors, including without limitation, the Company's
ability to achieve profitable operations, customer acceptance of
new products, the effects of the spread of Coronavirus (COVID-19)
and future measures taken by authorities in the countries wherein
the Company has supply chain partners, the demand for the Company's
products and the Company's customers' economic condition, the
impact of competitive products and pricing, successfully managing
and, general economic conditions and other risk factors detailed in
the Company's filings with the United States Securities and
Exchange Commission. The forward-looking statements contained in
this press release are made as of the date of this press release,
and the Company does not undertake any responsibility to update the
forward-looking statements in this release, except in accordance
with applicable law.
CONTACT INFORMATION:
Issued by Imej Jiwa Communications Sdn
Bhd on behalf of VCI Global LimitedFor media queries,
please contact:
Imej Jiwa Communications Sdn
BhdChris ChuahEmail: chris@imejjiwa.com
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