Shah Alam, Malaysia-based OMS Group, a company that installs and maintains submarine cable systems mainly for telecommunications companies in the Asia-Pacific region, is considering a listing on the Kuala Lumpur Stock Exchange as soon as next year, with an expected increase of up to 1.34 times. 100 million ringgit ($300 million), Bloomberg News quoted an insider. The company is working with at least three banks on a potential initial public offering (IPO) and is seeking a valuation of more than $1 billion based on strong earnings growth and increased spending by telecom operators on digital infrastructure, the report said. The company has narrowed the position…
Shah AlamMalaysia-based OMS Group, a company that installs and maintains submarine cable systems mainly for telecom companies in the Asia-Pacific region, is considering a listing on the Kuala Lumpur Stock Exchange as soon as next year, which is expected to raise as much as 1.34 billion ringgit . ($300 million), Bloomberg News Quoting industry insiders.
The company is working with at least three banks on a potential initial public offering (IPO) and is seeking a valuation of more than $1 billion based on strong earnings growth and increased spending by telecom operators on digital infrastructure, the report said.
After initially considering listings in Australia, Hong Kong and Singapore, the company has narrowed the IPO location to Malaysia. Details of the offering and its timing have yet to be determined.
Malaysia’s largest IPO in over a year
According to more than a year after Malaysian home improvement retailer MR DIY Group went public for $363 million in October 2020, if the share sale happens, it would be the largest in Malaysia. Bloomberg.
OMS Group has been accelerating its IPO plans following the company’s most recent private funding round, which has been of interest to investors seeking to tap the potential of Asia’s ambitious submarine cable project.
Strong spending on digital infrastructure
Technology and telecommunications companies are increasingly investing in digitalization in the region, fueling demand for their respective infrastructures. Last year, Google and Facebook joined a new 2024 submarine cable system called Apricot, linking Japan, Singapore, Taiwan, Guam, the Philippines and Indonesia. Nippon Telegraph and Telephone Corporation announced in early July that it would build a 10,000-kilometer cable linking Japan and California.
With offices in Malaysia, Singapore and Indonesia, OMS Group has completed submarine cable installation and maintenance projects over the past 30 years, including the Papua New Guinea National Submarine Cable Network and the Japan Cable System in Southeast Asia2. its website.
The company has a large fleet of cable laying and repair vessels for subsea cable installation and maintenance projects carried out through Optic Marine Services International, part of the group.
