Business
VCI Global Announces Secondary Listing on Frankfurt Stock Exchange, Expanding Market Reach
VCI Global (NASDAQ: VCIG) announced its secondary listing on the Frankfurt Stock Exchange under the ticker symbol “H0T.” The move is designed to strengthen VCIG’s global presence and attract European investors. The Frankfurt Stock Exchange is the largest in Germany and the third largest in Europe, with a market capitalization of US$2.17 trillion. The listing aligns with VCIG’s strategy to diversify revenue streams and maximize shareholder value. The company specializes in consulting, fintech, AI, robotics and cybersecurity, with significant operations in Asia, the United States, Europe and the Middle East.
Positive
- Secondary listing on the Frankfurt Stock Exchange strengthens global presence.
- Access to a broader investor base in Europe.
- Alignment with strategic objectives to diversify revenue sources.
- Increased visibility in the consulting, fintech, AI, robotics and cybersecurity sectors.
VCI Global’s secondary listing on the Frankfurt Stock Exchange is of strategic importance to the company. It provides access to a broader investor base, particularly within the European market, which is known for its diverse and substantial investment opportunities. The Frankfurt Stock Exchange is a leading global financial center and gaining visibility here can lead to increased liquidity and potentially higher valuation multiples.
For individual investors, the move could signal an expansion of VCI Global's growth story. However, it is essential to monitor how the company leverages this listing to generate revenue and whether it can meaningfully leverage European investor interest. Given the company's presence in high-growth sectors such as AI, fintech and robotics, increased exposure could indeed support its ambitious expansion plans.
The listing on the Frankfurt Stock Exchange positions VCI Global in a market known for its robust industrial and technology companies. This is advantageous as investors in this market may be more receptive and understanding of VCI Global's operations in consulting, fintech, AI, robotics and cybersecurity. European markets' preference for these sectors could lead to greater brand recognition and confidence among investors.
For a retail investorthis listing can be seen as a positive development. It reflects the company’s commitment to growth and market diversification. However, it is crucial to assess how VCI Global will compete with the established European giants and whether it can carve out a significant market share. The secondary listing is a step forward, but the actual commercial impact will depend on how the company implements its strategic initiatives in Europe.
KUALA LUMPUR, Malaysia, June 28, 2024 (GLOBE NEWSWIRE) — VCI Global Limited (NASDAQ: VCIG) (VCI Global, VCIG or the Company), a diversified holding company focused on consulting, fintech, AI, robotics and cybersecurity, is pleased to announce its secondary listing on the Frankfurt Stock Exchange under the symbol H0T (Frankfurt: H0T) in the open market.
This strategic decision marks an important step in strengthening VCIG’s global presence and expanding its shareholder base to European investors. This new listing underlines VCIG’s commitment to innovation and growth in key sectors, with the aim of capturing new opportunities in Europe’s dynamic business landscape.
The Frankfurt Stock Exchange, Germany's largest stock exchange and one of the largest in the world, ranks third in Europe, just after Euronext and the London Stock Exchange, with a market capitalization of $1.2 billion.
“Our expansion into the European market is part of our strategic objectives to diversify revenue sources and maximize shareholder value. Listing on the Frankfurt Stock Exchange provides increased visibility and access to a broader investor base, strengthening our presence in consulting, fintech, AI, robotics and cybersecurity,” said Dato Victor Hoo , Group Executive Chairman and Managing Director of VCI Global.
About VCI Global Limited
VCI Global is a diversified holding company. Through its subsidiaries, it focuses on consulting, fintech, AI, robotics and cybersecurity. Headquartered in Kuala Lumpur, Malaysia, our main operations are focused on Asia, with significant visibility across Asia Pacific, the United States, Europe and the Middle East. VCIG primarily provides advisory services in financial markets, real estate, AI and technology. In the technology sectors, the company operates a proprietary financing platform that serves businesses and individuals, as well as a secure messaging platform serving governments and organizations. We also invest, incubate, accelerate and commercialize companies and technologies in AI and robotics.
For more information about the Company, please log on to https://v-capital.co/.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements that are subject to various risks and uncertainties. These statements include statements regarding the Company's ability to develop its business and other statements that are not historical facts, including statements that may be accompanied by the words intend, may, will, plan, expect, anticipate, project, predict, estimate, target, believe, hope, potential or similar words. Actual results may differ materially from those described in these forward-looking statements due to a number of factors, including, without limitation, the Company's ability to achieve profitable operations, customer acceptance of new products, the effects of the spread of the coronavirus (COVID-19) and future actions by authorities in countries in which the Company has supply chain partners, demand for the Company's products and the economic condition of the Company's customers, the impact of competitive products and pricing, successful management and general economic conditions and other risk factors detailed in the Company's filings with the U.S. Securities and Exchange Commission (SEC). The forward-looking statements contained in this press release are made as of the date of this press release and the Company assumes no obligation to update any forward-looking statements contained in this press release, except in accordance with applicable law.
CONTACT DETAILS:
For any inquiries, please contact:
VCI Global Limited
[email protected]
FAQ
What is the stock symbol of VCI Global on the Frankfurt Stock Exchange?
VCI Global's stock symbol on the Frankfurt Stock Exchange is “H0T”.
When did VCI Global announce its secondary listing on the Frankfurt Stock Exchange?
VCI Global announced its secondary listing on the Frankfurt Stock Exchange on June 28, 2024.
Why did VCI Global choose to list on the Frankfurt Stock Exchange?
VCI Global has chosen to list on the Frankfurt Stock Exchange to strengthen its global presence and attract European investors, thereby aligning with its strategic objectives to diversify revenue streams and increase shareholder value.
In which sectors does VCI Global operate?
VCI Global operates in the consulting, fintech, AI, robotics and cybersecurity sectors.
What is the market capitalization of the Frankfurt Stock Exchange?
The Frankfurt Stock Exchange has a market capitalization of $2.17 trillion ($1.97 trillion) at the end of 2023.
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