Creador-backed credit reporting firm CTOS Digital launches $290m IPO in Malaysia

An investor monitors share market prices at a brokerage firm in Kuala Lumpur, Malaysia, August 24, 2015. REUTERS/Olivia Harris

Malaysian credit reporting firm CTOS Digital Bhd on Wednesday announced plans to launch its 1.2 billion ringgit ($289 million) initial public offering (IPO), the country’s biggest listing for the year so far.

The company said at the launch of its prospectus that it expects to list on the Malaysian bourse on July 19.

The listing would entail a public issue of 200 million new shares and an offer-for-sale allocation of 900 million existing shares, priced at 1.10 ringgit each, the firm said.

It said it planned to use 220 million ringgit in the IPO proceeds to repay bank borrowings, investments, and acquisition, and defray listing fees and expenses.

The firm has earmarked 56 million ringgit for future acquisitions and has “identified some targets… both local and offshore,” CTOS chief executive officer Dennis Martin told reporters.

As reported by Reuters earlier, 23 cornerstone investors have signed on to the company’s public market debut, including AIA Group Ltd, Aberdeen Standard Investments and two of Malaysia’s largest government-linked funds.

The listing is the largest since Mr DIY Group’s 1.5 billion ringgit IPO last year. Both Mr DIY and CTOS come from private equity firm Creador’s stable.

Reuters

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.