Malaysian telco U Mobile is mulling an IPO as it expands its network under a MR1.5bn (US$470m) programme, reported Reuters citing CEO Wong Heang Tuck.
He declined to disclose the size or timing of the possible listing in the interview, but said it plans…
Malaysian telco U Mobile is mulling an IPO as it expands its network under a MR1.5bn (US$470m) programme, reported Reuters citing CEO Wong Heang Tuck.
He declined to disclose the size or timing of the possible listing in the interview, but said it plans to increase its market share from around 6-7% to 10% in 2015.
By targeting Malaysia’s youth, Wong reportedly said the privately-held group expects to grow revenues by 50% next year.
The company could not be contacted before the press deadline.
It is currently the country’s fourth-largest mobile operator by number of customers in an eight player market.
The operator was set up in 2007 and its shareholders include Malaysian billionaire Vincent Tan and investor group Singapore Technologies Telemedi.
In May 2014, U Mobile agreed a 10-year partnership with local towerco Axiata’s Edotco that it said would help accelerate its network rollout.
Edotco, which describes itself as Southeast Asia’s first independent communications infrastructure services company, is leasing towers to U Mobile under that deal, while also providing power and maintaining the sites.
James Maclaurin, Edotco’s CEO, said at the time: “U Mobile’s partnership with Edotco is synonymous with the company’s efforts in building a long-lasting and reliable network solution that will best accommodate its end users.
“Furthermore, the partnership also reduces the company’s capex and opex used for site maintenance and management, so that more resources can be invested to provide more attractive product offerings to consumers.”