By Ben Glickman
Shares of VCI Global rose 10.4% to $2.65 Friday after the company said it would serve as Sagtec Group’s initial public offering consultant.
The Malaysian company was named the IPO consultant for Sagtec as the information technology company seeks to list on the Nasdaq. VCI’s stock is down 39% so far this year.
VCI Global will receive an advisory fee of $2 million and 5% of Sagtec’s market capitalization if the listing is successful. VCI also said it would serve as a business expansion consultant to Sagtec.
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