VCI Global repurchases shares under authorized buyback program

VCI Global Limited (NASDAQ: VCIG) announced it has executed open-market repurchases of its common shares under a previously approved share repurchase authorization, according to a company statement.

The repurchases were conducted in accordance with U.S. securities regulations and are part of the company's capital optimization strategy. VCI Global indicated it may continue to repurchase shares subject to market conditions and other corporate considerations.

"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 did not disclose the number of shares repurchased or the total value of the transactions in the announcement.

VCI Global operates as a cross-sector platform builder focusing on technology sectors including artificial intelligence, cybersecurity, digital assets, and financial services. The Kuala Lumpur-based company develops platforms for enterprises, governments, and institutions in the digital economy.

The company stated the repurchases demonstrate confidence in its long-term strategy and commitment to shareholder value. VCI Global trades on the NASDAQ under the ticker symbol VCIG.

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