U.S. Markets close in 3 hrs 9 mins

PHI Capital Holdings Assists First Vietnam-based E-commerce Company DIO GROUP JSC to go public in the U.S.

New York, Jan. 22, 2019 (GLOBE NEWSWIRE) -- PHI Group, Inc. (www.phiglobal.com) (OTCQB: PHIL), a U.S. diversified holding company focused on mergers and acquisitions and investments in select industries and special situations, today announced that its wholly-owned subsidiary PHI Capital Holdings, Inc. has signed an agreement to assist DIO GROUP Joint Stock Company, a Vietnamese e-commerce group (www.diogroup.vn) , to go public in the U.S. stock market.

Founded in March 2018, DIO GROUP is primarily engaged in e-commerce merchandizing, real estate development, tourism, business incubation and selective business activities that add significant benefits to the company. DIO GROUP focuses mainly on sustainable factors in developing businesses and improving the quality of life for consumers, creating practical and meaningful values for society while also promoting the development of distinctive advantages of each member associated with the value of the group. 

According to the agreement, PHI Capital Holdings will advise DIO GROUP management and coordinate with all the pertinent regulatory agencies, attorneys, auditors and other service providers to help DIO GROUP become a fully-reporting publicly traded company in the U.S., with an aim to list DIO GROUP’s stock on the U.S. NASDAQ Stock Market in order to access international funding to implement its growth and expansion strategy. PHI Capital Holdings will receive cash from DIO GROUP and stock from the new public company for services rendered in connection with the agreement.

Hung Trung Nguyen, Chairman and CEO of DIO GROUP, stated: “We are confident that the services to be provided by Henry Fahman and the PHI Capital Holdings, Inc. team and advisors will bring substantial value to our company as we move ahead with the public listing process. We believe we are well qualified for and eagerly look forward to becoming a public company on the U.S. Nasdaq Stock Market. We are confident that this will greatly enhance our company’s value and enable us to access international capital markets to execute our growth strategy.”

Henry Fahman, Chairman and CEO of PHI Group, said: “We are truly delighted to work with Mr. Hung Trung Nguyen and the talented, creative and professional thought leaders at DIO GROUP to create new value for both companies and our shareholders. As CEO of PHI Group and speaking on behalf of our management and advisory team, we believe with a great passion after having had in-depth meetings and discussions with DIO GROUP’s leaders, that DIO GROUP is soon to be the Amazon of Viet Nam due to the great leadership and vision of its founder, Hung Nguyen, and the dedicated professionals who strive every day to achieve the Company’s agenda and goals with pristine timing and excellence.”

About PHI Group, Inc.

PHI Group (www.phiglobal.com) primarily focuses on mergers and acquisitions and invests in select industries and special situations that may substantially enhance shareholder value. In addition, the Company’s wholly owned subsidiary, PHI Capital Holdings, Inc. (www.phicapitalholdings.com) provides M&A consulting services and assists companies to go public and access international capital markets. We have also been working diligently to launch PHILUX Global Funds, a Luxembourg Reserved Alternative Investment Fund (RAIF) with several sub-funds for investment in renewable energy, agriculture, real estate and a diamond exchange together with international partners.


DIO Group is a multidisciplinary corporation with various business activities from media, entertainment, e-commerce, fashion, real estate, consumer goods, transportation, and payment services. We always strive to become a reliable partner to provide services and products for individual consumers, large domestic enterprises, businesses, and international organizations and projects. Website: www.diogroup.vn

"A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/6b47f3ba-cc97-49e2-9c94-b5536baad28e "

Safe Harbor Act and Forward-looking Statements

This news release contains “forward-looking statements” pursuant to the “safe-harbor” provisions of the Private Securities Litigation Reform Act of 1995. “Forward-looking statements” describe future expectations, plans, results, or strategies and are generally preceded by words such as “may,” “future,” “plan” or “planned,” “will” or “should,” “expected,” “anticipates,” “draft,” “eventually” or “projected,” which are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements as a result of various factors.

PHI Group, Inc.