U Mobile plans over US$500mil Malaysia IPO in 2025, sources say

SINGAPORE: Malaysian mobile data service company U Mobile is planning a domestic initial public offering (IPO) that is expected to raise more than $500 million as early as the first half of 2025, according to two sources with direct knowledge of the matter.

The Kuala Lumpur-headquartered company will file an IPO application to the regulator later this month, or August, for a deal that would value the firm at more than $2 billion, the people added.