VCI Global CEO expands ownership stake through open-market purchases

KUALA LUMPUR - VCI Global Limited (NASDAQ:VCIG) announced today that its Group Executive Chairman and Chief Executive Officer, Victor Hoo, has increased his ownership position in the company through open-market purchases via his privately controlled investment vehicle. The move comes as the company trades at remarkably low valuation multiples, with a Price/Book ratio of just 0.05 and a P/E ratio of 0.01, according to InvestingPro data.

The transactions were completed on Friday in accordance with U.S. securities regulations, with full details to be filed with the U.S. Securities and Exchange Commission via Form 6-K.

In a statement, the company’s Board of Directors indicated that Hoo’s purchases reflect his "conviction in VCI Global’s strategic direction and the substantial value-creation opportunities ahead."

This development follows VCI Global’s recently announced share repurchase program, which the company described as a "dual demonstration of confidence from both management and the Company."

VCI Global operates as a cross-sector platform focused on technology and financial architecture, with operations spanning artificial intelligence, encrypted data infrastructure, digital treasury systems, and capital market solutions.

The company stated it remains focused on "aggressive execution, capital efficiency, and maximizing long-term shareholder returns" as it continues to develop initiatives across its various business segments.

The information in this article is based on a press release statement from VCI Global Limited.

In other recent news, VCI Global Limited has embarked on a series of strategic financial maneuvers. The company announced it has initiated a share repurchase program, aiming to optimize its capital structure in compliance with U.S. securities regulations. Additionally, VCI Global plans to distribute a 10% stake in its cybersecurity and AI subsidiary, V Gallant Limited, to its shareholders as a special dividend, marking the first step toward a potential Nasdaq IPO for the subsidiary. In a significant development, Tether is set to become the largest shareholder of VCI Global following a $100 million transaction involving OOB tokens, which are part of VCI Global’s digital-treasury initiative. The company has also been appointed as the Treasury Manager for the OOB digital-asset ecosystem, acquiring $100 million in OOB tokens to support future AI, fintech, and blockchain projects. Furthermore, VCI Global has announced a $5 million registered direct offering with a single institutional investor, issuing shares at a discounted price. These actions reflect VCI Global’s ongoing efforts to strengthen its financial position and expand its technological initiatives.

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