Shares of VCI Global surged Tuesday after the company said it would distribute a new AI-based messenger app made by German software company Cogia.
The stock was recently up 46% to $4.14. Shares are down 2.6% this year.
VCI, a Malaysian consulting group, said it would be the exclusive distributor for Cogia’s new messaging app, “Socializer Messenger,” in certain Southeast Asian countries.
VCI will also have non-exclusive distribution rights in other countries and will receive a portion of the revenue from sales of the new app. The arrangement will last for two years with an automatic extension of one year.
Shares of VCI also rose last week after the company said it would serve as initial public offering consultant for information technology company Sagtec Group.
Write to Ben Glickman at ben.glickman@wsj.com
