Business
VCI Global Appointed IPO Consultant By Mojo Meta International
KUALA LUMPUR, Malaysia, Aug. 02, 2023 (GLOBE NEWSWIRE) -- GlobeNewswire – VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, or the “Company”) announced that
About this update from Vci Global Limited
[{"type":"text","content":"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; andestablish 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 consu...