Malaysia’s Aries Telecom is understood to be exploring a London IPO to raise its international profile as it looks to build the first terrestrial fibre network between Singapore and Hong Kong.
The telco has hired Panmure Gordon and Mirabaud Securities…
Malaysia’s Aries Telecom is understood to be exploring a London IPO to raise its international profile as it looks to build the first terrestrial fibre network between Singapore and Hong Kong.
The telco has hired Panmure Gordon and Mirabaud Securities to explore the possibility of raising up to £100m (US$149m), according to a source close to the process.
A London listing would attract international investors, in turn helping the company secure contracts and regulatory approvals for the planned network expansion.
It is expected to decide whether to proceed with the IPO during the summer.
Aries declined comment, while Panmure Gordon and Mirabaud Securities were not available by press time.
The group was incorporated in Kuala Lumpur in 1996 and currently provides fixed-line services in Malaysia to local businesses and mobile players.
Plans for an international fibre network will see it branch out across Singapore, Malaysia, Thailand, Laos and Hong Kong.
The terrestrial network would avoid a fault-line that has threatened service interruptions to the 12 existing undersea cables connecting Singapore and Hong Kong.
