iWOW appoints moomoo CIS as their ESOP service provider - first on SGX to manage their employee stock options digitally
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.
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."