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Malaysia’s Carsome Said to Delay Singapore, US Dual Listing

  • Used-car online marketplace valued at $1.7 billion in January
  • Share sales may be revived next year depending on markets
The Carsome Group website.
The Carsome Group website.Photographer: Samsul Said/Bloomberg
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Carsome Group, which operates a Southeast Asian used-car online marketplace, is delaying its dual listing plans in Singapore and the US on concerns that deteriorating macroeconomic conditions could dent its valuation, according to people with knowledge of the matter.

Malaysia’s most valuable technology startup has halted work on the planned offerings that were set for this year, the people said. Carsome may revive the first-time share sales next year if markets improve, said the people, who asked not to be identified as the process is private.