(MENAFN- Mid-East.Info)
Riyadh, Saudi Arabia: Valuable Capital Group Ltd (“VCGL”), commonly known as “Sina Valuable” in Asia, announced it has applied for membership with the Saudi Exchange and financial license with the Capital market Authority through its Saudi Arabian subsidiary. The announcement was made on the sidelines of the inaugural Saudi Capital Market Forum 2022.
Valuable Capital Group is a leading fintech group founded in Hong Kong powered by Sina Corporation with dedicated online brokerage services offering global capital markets exposure and coverage. In 2021, a key milestone of VCGL's international expansion was the establishment of a joint venture company by VCGL and eWTP Arabia Capital in Saudi Arabia.
Mr. Jess Cheung, Chief Executive Officer and Director of VCGL, stated: “I am very pleased to have kicked-off this initiative in a timely fashion, despite the recent pandemic. We have witnessed impressive fintech innovation and robust capital market growth in the MENA region, especially in the Saudi marketplace, which has great talent and abundant market liquidity. For instance, we have seen Saudi digital security firm Elm completing its retail offering with 1,311 % oversubscription and generating up to SR12.09 billion. We believe that the market itself and the investment environment can share numerous synergies with VCGL and hope this initiative can accelerate our growth in the Middle East, not only to enhance the local market but also bring in interests from the rest of the world.”
About Valuable Capital Group:
Founded in 2010, VCGL as a fully licensed financial institution that holds various financial business permissions with the Hong Kong Securities and Futures Commission ('HKSFC'), acting as a fintech driven online brokerage firm in Hong Kong with advanced in-house design and technology infrastructure, providing investors with top-rated user experiences and access to global markets.
The VBrokers apps on mobile/ desktop devices holds the Top 2 rating in the online brokerage industrial field, and is one of the fastest growing leading players since 2018, winning awards from various organizations including Sina, Weibo, HKEX, etc.
VCGL offers innovative products, comprehensive services, and value-added solutions including global securities and derivatives execution, margin financing, IPO subscription, ESOP management, wealth management, investor education, community discussion, and customer support. The company's in-house designed infrastructure and advanced technology innovation are able to support trades across multiple currencies, markets, and clearing houses.
In 2021, a key milestone of VCGL's international expansion was the establishment of a joint venture company by VCGL and eWTP Arabia Capital in Saudi Arabia.
About eWTP Arabia Capital:
eWTP Arabia Capital, one of the largest MENA-focused venture capital funds based in Riyadh was founded by eWTP and leading tech companies. The firm is led by a team integral to the evolution of technology ecosystems in China, India, South-East Asia and MENA, and is backed by Saudi Arabia's sovereign wealth fund, the Public Investment Fund (PIF) Alibaba, and China's J&T Express Group.
The company is uniquely placed to adapt advanced technology capabilities globally and localize them with domain understanding, regulatory knowledge and relationships.
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