Southeast Asia is a region in Southeast Asia.
Indonesia
Singapore\sMalaysia
Vietnam\sThailand
Philippines
Myanmar
India
Greater China is a term used to describe a
Asia’s rest
World
Internet Economy & E-Commerce
Technology
Infrastructure and Real Estate
Services in the Financial Sector
Infrastructure for Social Development
CTOS Digital, a credit reporting startup financed by Creador, has launched a $290 million IPO in Malaysia.
On August 24, 2015, an investor examines share market values at a brokerage business in Kuala Lumpur, Malaysia. Olivia Harris/Olivia Harris/Reuters
Reuters, 30 June 2021
CTOS Digital Bhd, a Malaysian credit reporting agency, revealed plans on Wednesday to conduct its 1.2 billion ringgit ($289 million) initial public offering (IPO), the country’s largest so far this year.
At the launch of its prospectus, the business stated that it plans to list on the Malaysian stock exchange on July 19.
According to the firm, the listing will include a public offering of 200 million new shares and an offer-for-sale allocation of 900 million existing shares, each priced at 1.10 ringgit.
It said it expected to use the IPO proceeds of 220 million ringgit to repay bank borrowings, invest, and acquire, as well as offset listing fees and expenses.
CTOS chief executive officer Dennis Martin told reporters that the company has set aside 56 million ringgit for potential acquisitions and has “identified certain targets… both local and offshore.”
As previously reported by Reuters, the company’s public market debut has attracted 23 cornerstone investors, including AIA Group Ltd, Aberdeen Standard Investments, and two of Malaysia’s largest government-linked funds.
The IPO is the largest since Mr DIY Group’s 1.5 billion ringgit initial public offering (IPO) last year. Mr DIY and CTOS are both from Creador, a private equity business.
Reuters
CTOS Creator
Every day, you’ll receive articles like these in your email.
Sign up for The Daily Brief, our daily newsletter.
Register for the Newsletter
Related Articles
Markets & Initial Public Offerings
CTOS, a Malaysian company funded by Creador, has signed 20 cornerstone investors for its $290 million IPO.
AIA, Aberdeen Standard, Fidelity, and Eastspring Investments are among the companies that have joined CTOS.
Markets & Initial Public Offerings
CTOS, a Malaysian credit reporting firm, is expected to go public in Q3 for $292 million.
The exercise will see Creador, the company’s largest stakeholder, divest half of its 80 percent interest.
Creador, a Malaysian private equity firm, is planning an IPO to sell 40% of its share in CTOS Digital.
According to CEO Vasudevan, the lack of growth stocks could raise investor interest in CTOS’s IPO.
Creador, a Malaysian private equity firm, is planning an IPO for CTOS in July and expects to depart the Bank Index.
CTOS is currently owned by a private equity firm with an 80% share.
To continue reading our free content, create an account.
If you don’t want to get The Daily Brief in your inbox every day, unsubscribe.
REGISTER
Do you already have a login? Here is where you may log in.
Continue reading
