Malaysian mobile data service company U Mobile is planning a domestic initial public offering (IPO) that is expected to raise more than $500 million as early as the first half of 2025, according to two sources with direct knowledge of the matter. <\/p>\n
The Kuala Lumpur-headquartered company will file an IPO application to the regulator later this month, or August, for a deal that would value the firm at more than $2 billion, the people added. <\/p>\n
The deal, if it proceeds, could be the largest IPO in Malaysia in nearly eight years, according to LSEG data. <\/p>\n
Proceeds raised will be used for mobile data network expansion, among others, one of the sources said. The sources declined to be named discussing confidential information. <\/p>\n
“Our corporate policy is to not comment on speculation as necessary announcements will be made if there are any concrete developments of that nature,” U Mobile said in a statement in response to Reuters’ query on Monday. <\/p>\n
It added that it is preparing to respond and participate in the tender to build Malaysia’s second 5G network. <\/p>\n
U Mobile has planned to hold an IPO on the local stock exchange since 2014. <\/p>\n
If successful, U Mobile’s IPO would be Malaysia’s largest since South Korea’s Lotte Chemical Titan Holdings Bhd raised $879 million in 2017.
\nU Mobile’s listing would also help carry the current strong IPO market activity in Malaysia into next year. <\/p>\n
Malaysia’s IPO market has been the best performer in Southeast Asia in the first half of this year, according to LSEG data. <\/p>\n
The amount raised from Malaysian IPOs amounted to $637 million in the first six months of this year, up almost 24% from $514.3 million the same period a year ago, LSEG data showed. <\/p>\n
Founded in 2006, U Mobile is Malaysia’s youngest telecommunication company with a network ready for 5G, according to its websites. <\/p>\n
Its stakeholders include Malaysian tycoon Vincent Tan and ST Telemedia, a Singaporean strategic investor wholly owned by the country’s state investor Temasek.<\/p>\n","protected":false},"excerpt":{"rendered":"
Malaysian mobile data service company U Mobile is planning a domestic initial public offering (IPO) that is expected to raise more than $500 million as early as the first half of 2025, according to two sources with direct knowledge of the matter. The Kuala Lumpur-headquartered company will file an IPO application to the regulator later this month, or August, for a deal that would value the firm at more than $2 billion, the people added. The deal, if it proceeds, could be the largest IPO in Malaysia in nearly eight years, according to LSEG data. Proceeds raised will be used […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[8],"tags":[],"class_list":["post-836019","post","type-post","status-publish","format-standard","hentry","category-telecom"],"acf":[],"_links":{"self":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/836019","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/comments?post=836019"}],"version-history":[{"count":0,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/posts\/836019\/revisions"}],"wp:attachment":[{"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/media?parent=836019"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/categories?post=836019"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/telecomlive.in\/web\/wp-json\/wp\/v2\/tags?post=836019"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}