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Created: 09/23/2014 06:56:51 PM - Followers: 8 - Board type: Free - Posts Today: 0
MOL GLOBAL


 
www.mol.com

MOL Global, a Malaysian provider of online payment services mainly used for game credits, announced terms for its IPO on Tuesday. The Kuala Lumpur, Malaysia-based company plans to raise $263 million by offering 19.5 million shares (62% insider) at a price range of $12.50 to $14.50. At the midpoint of the proposed range, it would command a fully diluted market value of $919 million.

MOL Global could be the first Malaysia-based company to list on a US exchange in over ten years. Owned by Malaysian billionaire Vincent Tan, the company operates an online payment platform primarily used for for online gaming credits (MOLPoints), though Mol has invested in a suite of digital payment services. Its physical distribution network comprises over 970,000 locations across 13 countries, including an agreement with 7-Eleven Malaysia (controlled by Vincent Tan) to sell vouchers for MOLPoints and pre-paid mobile airtime.

Primary shareholders include Vincent Tan (45% post-IPO stake), Sultan Ibrahim Ismail (13%) and founder and CEO Ganesh Bangah (10%).

Revenue increased 34% to $62 million for the six months ended June 30, 2014, driven by a volume increase in MOLPoints, especially in Thailand, where mobile chat app LINE has grown (LINE accepts MOLPoints). However, the company notes that the volume of MOLPoints has decreased in Malaysia. Adjusted EBITDA increased 25% to $16 million (25% margin).

MOL Global, which was founded in 2000 and booked $62 million in sales for the 12 months ended June 30, 2014, plans to list on the NASDAQ under the symbol MOLG. Citi, Deutsche Bank and UBS Investment Bank are the joint bookrunners on the deal; Credit Suisse was removed as a bookrunner. It is expected to price during the week of October 6, 2014.

The two reasons why this tumbled:

MOL Global says CFO resigned for personal reasons, shares tumble
 

Then the company's largest shareholder came forth with a statement in support of the company:
Mr. Vincent Tan, the largest shareholder of MOL Global, Inc. (MOLG) today made the following statement in support of the company:

"MOL has encountered some difficulties over the last several days relating to an accounting error at its Vietnam subsidiary, a delayed earnings release and trading halt, and the departure of its CFO, Allan Wong. The timing of Allan's departure for personal reasons which unfortunately coincided with the delay in the earnings release have resulted in some unhealthy speculation on the company's financial numbers, and the stock price has been, in my view, unfairly punished.

"I have the utmost confidence in the management and MOL and none of these unfortunate events alters my very positive view of the underlying business of MOL. I have communicated my support to the management team at MOL, and while I know they are currently working very hard on addressing the issues that have arisen, I have encouraged them to continue to remain focused on executing their business plans.

"I also am very supportive of the board's decision to implement a share buyback plan, as I believe that at the last closing price the stock is significantly undervalued.

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#528 News of Investment in MOL Global by Razer.... ROCKHard 09/22/2017 06:25:21 PM
#527 Just looked up MOLG trades , found out ThoroughBread 07/24/2016 11:29:30 AM
#526 Yeah!I got them too.Been out of MOLG for cjmeyer 07/24/2016 10:59:57 AM
#525 Received Class Act papers for settlement buyers between ThoroughBread 07/24/2016 09:50:41 AM
#524 Ghost market. willlbone 04/19/2016 10:09:12 AM
#523 New symbol MOLDY. willlbone 04/18/2016 01:23:41 PM
#522 I think most of them bounce pretty good Zardiw 04/16/2016 02:12:10 PM
#521 Best to avoid NASQ/delistings as a short term willlbone 04/16/2016 12:33:08 PM
#520 Deregistered only means they will stop filing on Zardiw 04/16/2016 09:24:00 AM
#519 Wrong. Only the SEC or FINRA can put Zardiw 04/16/2016 09:18:22 AM
#518 Got some 22 on the way up. willlbone 04/13/2016 03:48:31 PM
#517 Form 15 and it can only be effective ErnieBilco 04/13/2016 03:31:04 PM
#516 Most stocks that delist from Nasdaq mention they willlbone 04/13/2016 03:14:18 PM
#515 Not really - they pretty much go hand ErnieBilco 04/13/2016 03:05:21 PM
#514 Delisted (Bad) and Deregistered (Extremely bad). willlbone 04/13/2016 01:16:06 PM
#513 MOLG so GLOM yo money and run. willlbone 04/13/2016 12:43:50 PM
#512 Seriously shouldn't be dropping anymore.......................................W tehXII7 08/10/2015 02:00:34 PM
#511 Aug 21st is the earnings report. Every time tehXII7 08/06/2015 10:39:35 AM
#510 I see that trading is halted, are they tehXII7 08/05/2015 11:15:22 AM
#509 When is the 2Q15 earnings call? tehXII7 08/05/2015 10:01:17 AM
#508 I know it, this has been one big ThoroughBread 07/10/2015 06:33:07 PM
#507 But why the drop, short selling? I don't tehXII7 07/10/2015 10:43:10 AM
#506 and molg shares, worth 1.33... ThoroughBread 07/09/2015 08:05:08 PM
#505 Last millisecond of large block trading today revealed 2times2 06/04/2015 04:04:23 PM
#504 SEA macro news looks good BiotechValues 05/20/2015 08:37:58 AM
#503 Listing costs, employee share based compensation, and share keyownknee 05/01/2015 06:56:19 PM
#502 Not that bad tehXII7 05/01/2015 12:45:35 PM
#501 From 20-F: keyownknee 05/01/2015 10:21:28 AM
#500 Slowly creeping up a few cents a day cjmeyer 04/13/2015 04:26:06 PM
#499 correct!...SP does not reflect revenue and balance sheet 2times2 03/27/2015 06:35:04 PM
#498 Q4 revenue growth 28% BiotechValues 03/27/2015 08:22:51 AM
#497 Is this the buyback or a run before earnings? uptowndw 02/03/2015 02:11:14 PM
#496 Nice news JJL 01/26/2015 08:29:45 AM
#495 $MOLG news: MOL Global Announces Partnership With COSWAY BiotechValues 01/26/2015 08:03:39 AM
#494 This is looking bottomed. jmo JJL 01/25/2015 11:09:51 AM
#493 Not sure. I got out of hear a little solmer 01/20/2015 10:45:17 PM
#492 When is earnings for this POS? uptowndw 01/20/2015 10:26:06 AM
#491 Last little attempt at a shakeout here? solmer 01/05/2015 08:10:28 AM
#490 That 15 million dollar share buyback if it's solmer 01/01/2015 06:31:12 AM
#489 Great looking chart here. January effect may take this solmer 01/01/2015 06:26:50 AM
#488 MOLG 2.9 flat base on top of 10d. PAC 12/28/2014 11:12:02 PM
#486 Breakout.... Obelax 12/22/2014 10:14:25 AM
#485 Urgh so mad I didn't wait lol oh ZADAUNIVERSE 12/19/2014 10:39:01 AM
#484 I try very hard not to make buys wshswr48 12/19/2014 10:38:12 AM
#483 Yeah looking like it. Need to learn to ZADAUNIVERSE 12/19/2014 10:36:27 AM
#482 I think we'll see steady up movement now. wshswr48 12/19/2014 10:33:27 AM
#481 Yeah pissed I panic sold though, it seems ZADAUNIVERSE 12/19/2014 10:25:35 AM
#480 Yeah it's def a big difference from pinky land wshswr48 12/19/2014 10:23:45 AM
#479 Freaking panic sold them, cause of how I ZADAUNIVERSE 12/19/2014 10:21:05 AM
#478 Pissed I bought those damn $3.00s to try ZADAUNIVERSE 12/19/2014 10:20:32 AM
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