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Singapore-based MyRepublic is gearing up to conduct an IPO by the end of next year, and use the funds to expand its operations to cover at least 10 countries in the next five years.
In a media briefing, MyRepublic said it is currently exploring listing on the Singapore, Hong Kong and/or Australian stock exchanges.
MyRepublic is meanwhile planning an entry into the Singapore mobile market in the fourth quarter and expects to subsequently expand its mobile operations to other parts of the region by next year onwards.
The company is likewise planning to launch TV services in the region, bcoming a quad-play provider.
MyRepublic currently operates in Singapore, Indonesia, Australia and New Zealand, and is evaluating expanding to Myanmar, Sri Lanka, Vietnam, Myanmar, the Philippines, Thailand, Cambodia and Malaysia. By June, the company reached 200,000 broadband subscribers across the region.
The company leverages NBN rollouts in the markets with strategic deployment of passive infrastructure to remain infrastructure agnostic and enable rapid expansion at a low cost of market entry.
MyRepublic said it can enter a new market in 60 days and launch new products in three months. The company has entered a new market every year since 2014 and turns ebitda-positive within two years of entering each new market.
At the briefing MyRepublic also denied reports that the company is pursuing an acquisition of Singapore’s M1. While the operator has put in a bid, it is not pursuing the acquisition, the company said, noting that while M1 is a traditional telco, MyRepublic is an “internet platform company.”
