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KUALA LUMPUR - VCI Global Limited (NASDAQ:VCIG) announced Wednesday that it has begun executing open-market repurchases of its common shares under a previously approved share repurchase program. The micro-cap company, currently valued at just $6.67 million, has seen its stock price decline significantly, trading at $1.22 after falling nearly 40% in the past week alone.
The Malaysia-based company, which operates across technology, cybersecurity, artificial intelligence, digital assets, and financial services sectors, indicated the repurchases comply with applicable U.S. securities regulations and are part of its capital optimization strategy. Financial data from InvestingPro shows the company holds more cash than debt on its balance sheet, with a healthy current ratio of 2.3, positioning it well to execute the buyback program.
"The share repurchases reflect our disciplined approach to capital management and long-term value creation," said Dato' Victor Hoo, Group Executive Chairman and Chief Executive Officer of VCI Global.
The company stated it may continue to repurchase shares periodically, depending on market conditions and other corporate considerations.
VCI Global described itself as a "cross-sector platform builder" focused on developing systems across artificial intelligence, encrypted data infrastructure, digital treasury, and capital market solutions.
The announcement did not specify the number of shares repurchased, the price paid per share, or the total amount allocated to the buyback program.
The information in this article is based on a company press release statement.
In other recent news, VCI Global Limited announced a special dividend of 10% of the share capital of its cybersecurity and AI subsidiary, V Gallant Limited, to its shareholders. This move is part of a broader strategy to eventually spin off V Gallant through a Nasdaq IPO. Additionally, Tether is set to become the largest shareholder of VCI Global following a $100 million OOB token digital-asset-treasury transaction. This transaction will integrate the OOB token into VCI Global's digital-treasury initiative, supporting future AI, fintech, and blockchain projects. VCI Global has also acquired approximately $100 million in OOB tokens and has been appointed as Treasury Manager for the OOB digital-asset ecosystem. In a separate development, the company raised $5 million through a registered direct offering, selling 2,777,778 ordinary shares at $1.80 per share. The offering is priced at-the-market under Nasdaq rules and is expected to close on October 31, 2025. Rodman & Renshaw LLC is acting as the exclusive placement agent for this transaction.
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