Malaysia's U Mobile plans IPO

Dylan Bushell-Embling
10 Sep 2014
00:00
News
Daily News

Malaysia's fourth largest mobile operator U-Mobile is planning to conduct an IPO to help fund a major 1.5 billion ringgit ($469.9 million) network expansion.

U Mobile CEO Wong Heang Tuck toldReuters that the company is preparing for an IPO, but added that the timing or location of the offer will depend on market factors.

U Mobile's network expansion will involve rolling out some 2,000 new base stations in addition to its 4,400 in operation.

Through the rollout, U Mobile aims to increase its market share to around 10% in 2015 - from 6-7% today - and to increase revenues by around 50%.

The operator aims to differentiate itself from its larger rivals by targeting younger users, a segment which is growing faster than the maturing overall Malaysian mobile market.

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