Malaysia's Carsome weighs US listing with SPAC as option

A Carsome employee inspecting a car at its inspection centre

KUALA LUMPUR: Carsome Sdn Bhd, an online used car platform in Southeast Asia, is weighing going public in the U.S. in a deal that would make it Malaysia’s first unicorn, according to people with knowledge of the matter.

The startup is working with advisers and is seeking a valuation of about US$2 billion (US$1 = RM4.14) in a listing, which could be a merger with a special purpose acquisition company or a conventional initial public offering, said the people. A deal to take the company public could take place as soon as the end of the year, they said.