Malaysian billionaire Vincent Tan is in talks with investment bankers in a lead-up to an initial public offering of his English Premier League club Cardiff City.
The listing of the football club is likely in the second half of next year, say industry sources.
The Straits Times understands that Mr Tan, 61, who bought the club three years ago when it was on the brink of insolvency, is mulling over a possible listing venue.
He is looking at two options: to list on home turf on Bursa Malaysia which is largely dominated by big state-owned funds and domestic investors, or pitch the offering to a wider investor base on the Singapore Exchange.
- See more at: http://business.asiaone.com/news/malaysian-tycoon-may-list-epl-club-here#sthash.zZPjhkbQ.dpuf
Malaysian billionaire Vincent Tan is in talks with investment bankers in a lead-up to an initial public offering of his English Premier League club Cardiff City.
The listing of the football club is likely in the second half of next year, say industry sources.
The Straits Times understands that Mr Tan, 61, who bought the club three years ago when it was on the brink of insolvency, is mulling over a possible listing venue.
He is looking at two options: to list on home turf on Bursa Malaysia which is largely dominated by big state-owned funds and domestic investors, or pitch the offering to a wider investor base on the Singapore Exchange.
- See more at: http://business.asiaone.com/news/malaysian-tycoon-may-list-epl-club-here#sthash.zZPjhkbQ.dpuf
Malaysian billionaire Vincent Tan is "in talks with investment bankers in a lead-up to an initial public offering of his English Premier League club Cardiff City," according to Anita Gabriel of the STRAITS TIMES. Industry sources said that the listing of the football club is "likely in the second half of next year." Tan, 61, bought the club three years ago when it was on the brink of insolvency, and is mulling over a "possible listing venue." He is looking at "two options: to list on home turf on Bursa Malaysia which is largely dominated by big state-owned funds and domestic investors, or pitch the offering to a wider investor base on the Singapore Exchange." If it "pans out as scheduled, Cardiff City's stock offering will take place two years after that of a much bigger football club." An analyst said, "Obviously, one can't compare to ManU which is a global brand, whereas Cardiff is truly just a football club and not a giant enterprise" (
STRAITS TIMES, 10/27).
