Malaysian billionaire Vincent Tan reportedly hired CIMB Group Holdings Bhd. to explore a possible initial public offering for Cardiff City Football Club in Singapore, sources told Bloomberg. According to the report, the Welsh soccer team may list on Singapore's Catalist market for smaller companies. Tan has yet to work out details of the listing as plans are still at an early stage, the report said.
Bloomberg said that Tan and business partner Chan Tien Ghee acquired an initial 36.1% stake in Cardiff City for about MYR29 million (USD9 million) in 2010. The partnership also inherited debts that could have amounted to MYR145 million at the time of the deal.
The Malaysian tycoon currently owns 51% of Cardiff City FC. Tan also controls Malaysia's Berjaya Group, the report said.
Bloomberg said that Tan is also considering listing his online payments company MOL Global Pte, four years after purchasing social networking site Friendster Inc. Last month, the he deferred the IPO of 7-Eleven stores operator Seven Convenience, Wall Street Journal said in a report.
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