Deals
Sub-Sea Cable Firm OMS Weighs $300 Million Malaysia IPO, Sources Say
- Listing would be Kuala Lumpur’s biggest in more than a year
- OMS Group working with advisers on IPO for as soon as 2023
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OMS Group Sdn., a Malaysia-based company that installs cable underwater, is weighing a listing in Kuala Lumpur as soon as next year that could raise as much as $300 million, according to people with knowledge of the matter.
The company is working with financial advisers on the planned first-time share sale, said the people, who asked not to be identified as the process is private. It is seeking a valuation of over $1 billion based on strong earnings growth and increased spending among telecommunications operators on digital infrastructure, the people said.