VCI Global Announces Secondary Listing on the Frankfurt Stock Exchange, Expanding its Market Reach

KUALA LUMPUR, Malaysia, June 28, 2024 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”, “VCIG”, or the “Company”), a diversified holding company specializing in consulting, fintech, AI, robotics and cybersecurity, is pleased to announce its secondary listing on the Frankfurt Stock Exchange under the ticker symbol “H0T” (Frankfurt: H0T) in the Open Market.

This strategic move marks a significant step in enhancing VCIG’s global presence and expanding its shareholder base to European investors. This new listing underscores VCIG’s commitment to innovation and growth in key sectors, aiming to capture new opportunities in Europe’s dynamic business landscape.

The Frankfurt Stock Exchange, the largest stock exchange in Germany and one of the largest globally, ranked third in Europe just after Euronext and the London Stock Exchange, with a market capitalization of US$2.17 trillion (€1.97 trillion) at the end of 2023, according to Statista, highlighting its significant role in European financial markets. SAP, the largest listed company with a market cap exceeding US$233 billion (€219 billion), leads the exchange, followed by Siemens and Deutsche Telekom. Other notable companies listed include carmakers such as Mercedes-Benz Group, BMW, and Volkswagen, as well as the sportswear brand Adidas and the industrial giant BASF.

“Our expansion into the European market aligns with our strategic objectives to diversify revenue streams and maximize shareholder value. Listing on the Frankfurt Stock Exchange provides enhanced 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 Chief Executive Officer 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. Based in Kuala Lumpur, Malaysia, our main operations are centered in Asia, with significant visibility across Asia Pacific, the United States, Europe, and the Middle East. VCIG primarily offers consulting services in capital markets, real estate, AI, and technology. In technology businesses, the company operates a proprietary financing platform that serves companies and individuals, as well as a secured messaging platform serving governments and organizations. We also invest, incubate, accelerate, and commercialize businesses and technologies in AI and robotics.

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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 (SEC). 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.

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