Tan Sri Vincent Tan is eyeing Singapore’s Catalist market for the flotation of Cardiff City FC, according to sources. Tan is said to have appointed CIMB Investment Bank Bhd as an advisor for the listing and had been wooed to list there by the Singapore Stock Exchange. Tan owns 36.1% of Cardiff and since mid-2013 has declared that he had intentions to list the Welsh club.
- The Catalist market is akin to Malaysia’s ACE Market that enables fast-growing companies to seek a listing under more flexible requirements such as the absence of financial admission criteria. It is unclear how much Tan plans to raise from the initial public offering.
- It is learnt that the tycoon had looked at the possibility of listing the English Premier League club on the local bourse. However, he had later been wooed by bankers and officials from across the causeway to list on the Singapore Stock Exchange. (Starbiz)
Source: CIMB Daybreak - 06 December 2013