VCI Global (NASDAQ: VCIG), a multidisciplinary consulting group with key advisory practices in the areas of business and technology, is expanding into the digital asset market with its just-announced subscription for 500 new GlobexUS Holdings Corp (“GlobexUS”) shares. According to the company, the shares will be subscribed at $3,000 per share for a total of $1.5 million. The announcement noted that GlobexUS is the holding company of the 50/50 joint venture technology partner of Upstream Exchange, a MERJ Exchange market. Upstream is the world’s first regulated exchange that lists blockchain-based digital securities to be traded on its retail marketplace; the market allows U.S and global securities issuers to dual list their shares on the platform. In addition to subscribing to the shares, VCI Global has entered into a marketing and referral agreement with Upstream. According to the agreement, VCI Global has exclusive rights to introduce and refer entities that wish to list or dual list on Upstream in the territories of Malaysia, Singapore and Indonesia. “As the global economies pull further away from the pandemic era, we are committed to maintain our growth strategy plan to maintain our position as a leading global advisory firm,” said VCI Global executive chair and CEO Dato’ Victor Hoo in the press release. “The acquisition of the stake [in GlobexUS] is synergistic given our related referral arrangement. Undoubtedly a win-win situation for all parties concerned. This partnership with Upstream will open up a new revenue stream for us, which, we believe, will increase the valuation of VCI Global significantly once it gains traction.”
To view the full press release, visit https://nnw.fm/XIx1h
About VCI Global Limited
VCI Global is a multidisciplinary 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 to 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 the company also serves clients from China, Singapore and the United States. For more information, visit the company’s website at https://V-Capital.co.
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