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Sunday, 19 January 2014

Vincent Tan’s MOL said to Pick Banks for $300 Million U.S. Listing 已委2银行负责IPO 传MOL转向美国上

 Last week, many media in China specifically feature photo of Chryseis Tan simultaneously. we are not sure that are because of our report or it is just a coincident.

MOL Global Pte, the online payments company backed by Berjaya Group's Vincent Tan, picked Credit Suisse Group AG and Deutsche Bank AG to work on an initial public offering in the U.S., reported Bloomberg.

The Malaysia-based company plans to seek about $300 million this year, said the people, who asked not to be identified because the information is private.  MOL Global plan to list in Malaysia when Malaysia achieved top 4 IPO destination in the world in 2012 to give continues support to Malaysia's capital market. However, Malaysia unable to maintain it IPO position in 2013. Thus, market speculated that "MOL Global changed an earlier plan for an IPO in Malaysia because most comparable companies are listed in the U.S"., one person said.

It might be also because Vincent Tan fame in world stage increase after Cardiff City Football Club saga.

MOL Global’s IPO preparations come four years after it acquired Friendster Inc., owner of one of the earliest social networking sites. Bloomberg stated that the proceeds will help it better compete with payment providers including EBay Inc. (EBAY)’s PayPal unit, which has been expanding in emerging markets.
Ganesh Kumar Bangah, the chief executive officer of, didn’t immediately return an e-mail seeking comment.

However, it seem MOL Global and Paypal are competing in two different market. MOL Global more on micro payment on game whereas Paypal more on Ecommerce payment transaction. Anyhow, Ecommerce operator will welcome MOL Global as Paypal has increase it rate charge and exchange rate almost every year. However, as Paypal is controlled by Ebay. eBay prohibited seller to offer other operator as a payment platform like MOL Global. But, Ecommerce operator in Malaysia expected would not hesitate to try for other platform for marketplace other than ebay if MOL Global intended to venture in this area as other cost of doing business like international postage rate has increase substantially in Malaysia.

MOL Global would be the first Southeast Asian company in more than four years to carry out an IPO in the U.S., data compiled by Bloomberg show. Chinese companies raised $906 million through U.S. initial offerings last year, according to the data.

MOL Global, founded in 2000, handles more than 60 million payments annually totaling at least $300 million, according to its website. In 2009, it bought Friendster to tap into its Asian subscriber base.

Tan is the founder of Malaysia’s Berjaya Group, which runs lotteries, Aston Martin dealerships and Starbucks coffee shops in the country. He’s also planning a listing of 7-11 store operator Seven Convenience Bhd., people familiar with the matter said in August.

The billionaire hired CIMB Group Holdings Bhd. to explore an initial public offering of Welsh soccer team Cardiff City Football Club (Holdings) Ltd. in Singapore, a person familiar with the matter said in December.

Update : Is Berjaya chief Vincent Tan set on cashing out on his assets?    

已委2银行负责IPO 传MOL转向美国上市

上星期, 中国媒体竞相报道Chryseis Tan 照片.不知道是不是因为我还只是一个巧合.
,Vincent Tan's MOL eyes US listing, hires 2 foreign banks to work on IPO

这星期,传我国富豪丹斯里陈志远旗下的电子付费服务供应商MOL全球(MOL Global)转向美国进行首次公开募股(IPO)。

消息说,该公司并已委任瑞士信贷(Credit Suisse)和德意志银行(Deutsche Bank)负责其上市计划。
陈志远和嘉纳斯古玛在2000年联合创立MOL AccessPortal公司,于2003年12月上市当时的自动报价市场(MESDAQ)。
他也在探讨其他公司的IPO计划,如大马7-Eleven,以及英国加的夫球会(Cardiff City)。


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