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Carsome weighing US listing, SPAC merger | Malay Mail

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KUALA LUMPUR, June 18 — Carsome Sdn, an online used car platform in South-east Asia, is weighing going public in the US 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...

KUALA LUMPUR, June 18 — Carsome Sdn, an online used car platform in South-east Asia, is weighing going public in the US in a deal that would make it Malaysia’s first unicorn, according to people with knowledge of the matter.

Kuala Lumpur-based Carsome is conducting a pre-IPO funding round that aims to raise about US$150 million, said the people, asking not to be identified because the matter is private. At a US$2 billion valuation, Carsome would become Malaysia’s first unicorn. The car sales platform operator would join other companies in the region such as Indonesia’s Tiket.com as well as Singapore’s PropertyGuru Pte and Grab Holdings Inc. in planning to list in the U.S. via mergers with blank-check firms.

 

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