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SINGAPORE: Malaysia's largest fintech company TNG Digital is looking at a potential domestic initial public offering over the next two to three years that could raise over $300 million, two sources with knowledge of the matter said.
The current valuation of TNG Digital was not immediately certain. The Kuala Lumpur-headquartered company raised 750 million ringgit from an equity funding round in 2022 led by investors Lazada and parent Touch 'n Go, according to press release at that time. IPO proceeds are expected to be used for further business expansion in Malaysia and beyond in Southeast Asia, the sources added, declining to be named as the matter was private."The company continuously explores opportunities to access capital markets for funding, and any decisions will be announced at the appropriate time," TNG Digital said in a statement to Reuters.
TNG Digital also provides financial services products including investments, lending and credit, remittances and insurance, its website showed.
TNG Digital Lazada Touch N' Go IPO Listing
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