VCI Global Appointed IPO Consultant By Mojo Meta International
02 August 2023 - 10:00PM
GlobeNewswire – VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or
the “Company”) announced that its wholly owned subsidiary, V
Capital Consulting Limited (“VCCL”) has been appointed as an
initial public offering (“IPO”) consultant by Mojo Meta
International Sdn Bhd (“MMI”). This is in conjunction with the
proposed listing of MMI or its holding company (“Listco”) on the
NASDAQ stock market. This IPO advisory mandate entails a USD2
million advisory fee and a success fee equivalent to an allotment
of 5% of the Listco’s fully diluted shares on the enlarged market
capitalization.
MMI is a one-stop solutions provider that is
able to meet all media and advertising related needs in this
dynamic digital era. It operates a multifaced system that offers a
wide spectrum of services through sophisticated digital
multi-content platforms to address the evolving demands of its
clientele base. Through its artificial intelligence (“AI”)
laboratories, MMI draws on AI technologies to enhance its service
offerings. It also harnesses the advantages of AI to generate
dynamic multi digital contents for the media and advertising
sectors. Its extensive and well diverse client portfolio includes
Petronas, Mastercard, Nestle and Sony.
As the IPO consultant, VCCL’s scope of work
includes, amongst others:-
- review and assist with the reorganization of the Listco’s
capital structure;
- liaising and working with external professionals such as
investment bankers, lawyers and auditors on issues
related to the listing exercise;
- prepare proposal on the listing scheme and business metrics;
and
- establish capital market strategies and corporate plans to
maximise the Listco’s value ahead of the listing.
“I am grateful for the support and belief in our
abilities as we continue to gain acceptance by various industries.
VCI Global has maintained that AI is the way of the future as it
applies to all industries, in this case the media and advertising
industries which have been migrating into the digital age. Global
social media digital advertising spending has been projected to
grow to the region of USD350 billion per annum by 2026. This is
equivalent to an annual growth rate of 12% over the next few years.
We are undoubtedly pleased to be able to support MMI through our
expertise in the AI-enhanced technology and consultancy services as
MMI continues to craft strategic digital content for millions of
viewers,” said Dato’ Victor Hoo, Group Executive Chairman and Chief
Executive Officer of VCI Global.
“We are thrilled to announce our partnership
with VCI Global as our IPO consultant for the proposed NASDAQ
listing. Their expertise in financial strategy will be instrumental
in positioning MMI for success in the dynamic digital era and
optimising our pre-listing value. With VCI Global's support, we
look forward to this transformative journey and are confident in
achieving growth and success while crafting strategic digital
content for our audience,” said Phoo Keng Hui, Group Chief
Executive Officer of MMI.
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 Limited For media queries,
please contact:
Imej Jiwa Communications Sdn
Bhd Chris Chuah Email: chris@imejjiwa.com
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