SINGAPORE, Feb. 15, 2023 /PRNewswire/ -- Employee Stock Ownership Plans (ESOPs) are gaining popularity among Singapore-listed companies as a tool to attract and retain talent through employee ownership. iWOW (SGX:NXR), a home-grown technology provider specialising in integrated wireless IoT solutions as a service, is implementing its Employee Stock Option Plan and has selected Moomoo Corporate and Institutional Solutions (Singapore) Pte. Ltd. ("moomoo CIS") as their technology service provider to support the rollout.
In honour of the occasion, representatives from both parties witnesses the kick-off of this partnership include: (from left) Mr. Adrian Ho, Group Financial Controller of iWOW; Mr. Ashokan Ramakrishnan CMO of iWOW; Mr. Raymond Bo, CEO and Executive Director of iWOW; Mr. Robin Xu, Senior Partner and SVP of Futu Holdings Limited; Mr. Ivan Mok, CEO of moomoo SG, and Mr. Gavin Chia, Managing Director of moomoo SG.
With moomoo's tech-driven ESOP solution, iWOW will not need to manage the employee stock options manually, which can be not only time-consuming but also prone to data loss and error. Instead, they will enjoy one-stop service that is hassle-free & cost effective; benefiting both the management and employees.
The moomoo ESOP solution offers a comprehensive scope that supports :
- incentive plan establishment and incentive pool management;
- multi-incentive plans design and granting;
- creation and assimilation of the document, e-signing and filing online;
- tax consulting services, from calculation and declaration to tax filing;
- And ESOP trust set up.
Mr. Raymond Bo, Chief Executive Officer and Executive Director of iWOW Technology, says: "As a technology company, we recognize excellence in innovation and technology. We chose moomoo as our ESOP service provider as we are impressed with not only their cutting-edge technology but also their high quality and reliable service. We believe that digitalization is the future and we are proud to be an early adopter of such a revolutionary capital market platform."
Mr. Gavin Chia, Managing Director, moomoo CIS, says: "We are elated to support iWOW in implementing its employee stock ownership plans. This partnership is another vote of confidence in our relentless focus on delivering tech-empowered corporate and institutional solutions to the market. iWOW and moomoo SG have a long history of partnership since the Company was listed in SGX last year, during which moomoo SG became the first digital brokerage to be the main placement agent and underwriter for SGX listings and achieved 4.3 times over-subscription. By entering another collaboration in providing ESOP management services to our IPO client exhibits market's confidence in our products and technology. We look forward to more such partnerships with ecosystem players."
About Moomoo Corporate and Institutional Solutions (Singapore) Pte. Ltd
Moomoo Corporate and Institutional Solutions (Singapore) Pte. Ltd is a wholly-owned subsidiaries of Futu Holdings Limited (Nasdaq: FUTU; "Futu" or "The Group"). The Group has been providing ESOP Services since 2016. Its dedicated team has since provided plans to over 600 companies, serving over hundreds of thousands talents in over 40 countries and regions. Their clients span industries such as Technology, Media and Telecom (TMT), Electric Vehicles, Education, and Healthcare, namely Tencent, Kuaishou, and Xiaopeng Automobile. For more information, please visit https://www.moomoo.com/sg/institution/esop
About Moomoo Financial Singapore Pte. Ltd.
Based in Singapore, Moomoo Financial Singapore Pte. Ltd. (moomoo SG), a subsidiary of the Tencent-backed and Nasdaq-listed Futu Holdings Limited (Nasdaq: FUTU), is a next-generation digital brokerage that provides on-the-go trading and wealth management services via its investment super-app, moomoo. Moomoo SG strikes a balance between offering a user-friendly, digital-first interface and advanced tech-driven product features to offer investors an enhanced investing experience.
Moomoo SG's mission is to provide investors with an intuitive and powerful investing platform by using technology to meet the market's unmet needs. Moomoo SG aims to become an influential financial services platform globally, by prioritising users and user experience, driving high innovation across its product upgrade, and enriching products and services offering that meet the evolving needs of investors, companies, and the industry. Moomoo SG is a capital markets services licence holder regulated by the Monetary Authority of Singapore (Licence No. CMS101000). In June 2022, moomoo SG became the first digital broker to receive all five memberships from the SGX Group for the securities and derivatives markets. For more information, please visit https://www.moomoo.com/sg
About iWOW Technology
Established in 1999, iWOW Technology Limited ("iWOW Technology" or the "Company", and together with its subsidiaries, the "Group") is a home-grown technology provider specialising in integrated wireless IoT solutions as a service. The Group is currently focuses on becoming an integrated solutions provider in the IoT industry and aims to promote solutions for sustainable living through technologies that help businesses and nations to optimise resource allocation, provide solutions for the aging population in Singapore to help keep elderly and vulnerable communities safe and independent, provide solutions for smart city / smart nation living to address security and safety issues in countries undergoing rapid urbanisation and provide IoT solutions that are aligned with future megatrends that shape the world.
iWOW Technology currently serves various B2B customers and government agencies in Singapore. Its portfolio of smart city solutions includes the TraceTogether Token that was widely used in Singapore for Covid-19 contact tracing, as well as other wireless IoT solutions and offerings under its main two business segments of Smart City Solutions and IoT-as-a-Service.
For more information, please visit https://www.iwow.com.sg/
