KUALA LUMPUR, Malaysia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- 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
