Australia has in recent years become an attractive location for promising Southeast Asian tech companies to launch their IPOs. The following is a list of notable Southeast Asian tech companies that have launched their IPOs in Australia:
Netccentric is a Singapore-based digital marketing company and is the parent company of Nuffnang, Asia’s leading blog advertising network. Netccentric started trading on the Australian Securities Exchange (ASX) in July 2015 and has raised A$12.5 million (US$9.38 million) in its offering.
iCandy Interactive (Malaysia)
iCandy Interactive is a free-to-play mobile games studio based in Malaysia. It has produced games for both the App Store and the Play Store, achieving more than 10 million downloads since its inception. Revenue is generated through in-game purchases, mobile advertisements and game-related merchandise sales. iCandy’s IPO in 2016 was oversubscribed by 92 percent, raising A$4.8 million (US$3.6 million) for the company.
Ensogo (formerly known as iBuy Group) is an e-commerce company that was formed from the acquisition of multiple e-commerce companies across Asia, including Dealguru (Singapore), Dealmates (Malaysia) and BeeCrazy (Hong Kong). Its oversubscribed IPO that was launched in 2013 has managed to raise A$37 million (US$27.8 million). In June 2016, Ensogo announced the suspension of its trading on the ASX, the resignation of its CEO and the closure of its marketplace business in Southeast Asia.
iProperty Group (Malaysia)
iProperty Group is currently the largest online property group in Asia with numerous ownership of online property portal websites in major Asian countries such as Singapore, Malaysia, Hong Kong, Thailand and the Philippines. Its IPO was launched in 2007 for A$7.5 million (US$5.6 million) although the amount raised was not disclosed. In November 2015, it was announced that iProperty Group would be bought over by REA Group, a subsidiary of News Corp and one of the largest online property group in the world.
iCar Asia (Malaysia)
iCar Asia is the leading network of online automotive marketplaces in Southeast Asia through its ownership of local automotive portals in Malaysia, Indonesia and Thailand, including Carlist (Malaysia), Mobil123 (Indonesia) and One2Car (Thailand). iCar Asia launched its IPO in 2012 for A$10 million (US$7.5 million) or A$0.2 per share.
Migme is a global digital media company that is focused on providing content and services in the world’s emerging markets. Some of its portfolio brands include social networking platform Migme, mobile app for couples LoveByte and online community portal Alivenotdead. Unlike other Southeast Asian companies that launched their IPOs in Australia, Migme’s listing on the ASX in August 2014 was the result of a reverse takeover of mining explorer company, Latin Gold. This allowed Migme to start with more than US$10 million to fund their future expansion and growth plans.