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 MOL.com, 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们的报道还只是一个巧合.
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陈志远旗下的MOL全球目前是东南亚最大的互联网公司之一。
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。
海外贡献60%盈利
彭博社引述两名不具名消息，指MOL全球原定在大马上市，但考量到大部分同业都上市美国市场，所以改变计划到美国，计划筹资3亿美元（约9.89亿令吉）。
据悉，MOL全球约60%的盈利来自海外业务，其余则来自国内业务。
MOL全球总执行长嘉纳斯古玛暂未回应此事。
MOL全球目前是东南亚最大的互联网公司之一，当年更收购红极一时的社交网站Friendster，现已转型为网上游戏平台。
MOL全球IPO计划已准备长达4年，通过这次IPO，MOL全球将获得更多资金，与其他竞争对手如PayPal一较高下。
根据彭博社资料，MOL全球有望成为逾4年来首个到美国上市的东南亚公司。
MOL全球每年处理超过6000万次交易，总额至少3亿美元（约9.89亿令吉）。
陈志远多公司陆续上市
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）。
不过，该公司在2008年2月被私有化除牌，纳入为MOL全球的子公司，由两人共同持有。
陈志远去年为旗下两家公司上市，筹资高达1亿令吉，分别是康宁药剂（CARING，5245，主板贸服股）和成功汽车（BJAUTO，5248，主板贸服股）。
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