VCI Global Completes Sagtec Global Limited’s Nasdaq IPO, Earning US$5.7 Million in Advisory Revenue
Sagtec Global Limited’s IPO Marks V Capital Consultancy Group’s Third Successful Nasdaq Listing Within a Year
KUALA LUMPUR, Malaysia, March 07, 2025 (GLOBE NEWSWIRE) -- VCI Global Limited (NASDAQ: VCIG) (“VCI Global”) is pleased to announce the successful initial public offering (IPO) of its client, Sagtec Global Limited (NASDAQ: SAGT) (“Sagtec”), facilitated through its capital market advisory arm, V Capital Consultancy Group Limited (“VCCG”, or the “Company”). Leveraging its expertise, VCCG guided Sagtec through the entire IPO process, resulting in its trading debut on March 7, 2025. The IPO raised US$7 million, resulting in a post-listing valuation of over US$50 million for Sagtec.
As Sagtec’s IPO consultant, VCCG provided strategic guidance and collaborated with key professionals throughout the listing process. The IPO generated approximately US$5.7 million in revenue for the Company, highlighting VCCG’s growing presence in the IPO advisory space and its commitment to bringing more Southeast Asian companies to Nasdaq. Notably, this marks the third IPO successfully completed by VCCG within a year.
Sagtec is a leading provider of customizable software solutions, primarily serving the Food and Beverage (F&B) sector. It also offers software development, data management and social media management to enhance its clients’ operational efficiency across various industries, including Key Opinion Leaders (KOLs). Through its subsidiary, CL Technology (International) Sdn Bhd, Sagtec operates power banks charging stations at 300 locations across Malaysia.
As of today, Sagtec’s flagship product, Speed+, has surpassed 10,000 subscribers, reflecting approximately 47% growth in subscriptions. In 2024, Sagtec’s total unaudited revenue reached approximately US$11.63 million, representing an 82.29% increase from the previous year.
“Listing on Nasdaq marks a pivotal milestone for Sagtec, showcasing our unwavering commitment to delivering cost-effective solutions to the industry. This IPO provides us with resources to scale our operations and expand into new markets. We are profoundly grateful to VCCG for their resolute support and strategic guidance throughout this journey,” said Kevin Ng, Chairman, Executive Director and Chief Executive Officer of Sagtec.
“Sagtec’s IPO is more than just a significant breakthrough - it’s a testament to what can be achieved with the right strategy and partnership. At VCI Global, we are dedicated to helping more companies turn their ambitions into reality, leveraging our capital market expertise to create even more success stories on Nasdaq and beyond,” said Dato’ Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
About Sagtec Global Limited
Sagtec specializes in customizable software solutions for the Food & Beverage (F&B) sector, offering table ordering, QR ordering, and self-service kiosk applications to enhance operational efficiency. The company also provides software development, CRM, invoicing, data management, and social media management for various industries, including Key Opinion Leaders (KOLs). Through its majority-owned subsidiary, CL Technologies, Sagtec operates power-bank charging stations at 300 locations across Malaysia. Its flagship product, Speed+, a smart ordering system on leased POS machines, streamlines order management and surpassed 6,800 subscribers in 2024, reflecting its growing market adoption.
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About VCI Global Limited
VCI Global is a diversified global holding company with a strategic focus on AI & Robotics, Fintech, Cybersecurity, Renewable Energy, and Capital Market Consultancy. With a strong presence in Asia, Europe, and the United States, VCI Global is committed to driving technological innovation, sustainable growth, and financial excellence across multiple industries.
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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. These forward-looking statements are based only on our current beliefs, expectations, and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks, and changes in circumstances that are difficult to predict and many of which are outside of our control. Therefore, you should not rely on any of these forward-looking statements. 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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