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MOL Global (MOLG)

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Last Post: 9/22/2017 6:25:22 PM - Followers: 8 - Board type: Free - Posts Today: 0



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
MOL Global shares tumble on Vietnam accounting glitch, profit slump

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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MOLG News: MOL Global, Inc. Announces its New Practice of Releasing Financial Results Semi-Annually 05/26/2016 09:31:01 PM
MOLG News: MOL Global, Inc. ADSs Now Quoted on the OTC Market 04/22/2016 06:42:38 AM
MOLG News: Report of Foreign Issuer (6-k) 04/19/2016 11:26:36 AM
MOLG News: MOL Global, Inc. Announces NASDAQ Delisting and Deregistration 04/13/2016 10:02:09 AM
MOLG News: Report of Foreign Issuer (6-k) 03/29/2016 10:15:52 AM
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#528   News of Investment in MOL Global by Razer.... ROCKHard 09/22/17 06:25:21 PM
#527   Just looked up MOLG trades , found out ThoroughBread 07/24/16 11:29:30 AM
#526   Yeah!I got them too.Been out of MOLG for cjmeyer 07/24/16 10:59:57 AM
#525   Received Class Act papers for settlement buyers between ThoroughBread 07/24/16 09:50:41 AM
#524   Ghost market. willlbone 04/19/16 10:09:12 AM
#523   New symbol MOLDY. willlbone 04/18/16 01:23:41 PM
#522   I think most of them bounce pretty good SantaZar 04/16/16 02:12:10 PM
#521   Best to avoid NASQ/delistings as a short term willlbone 04/16/16 12:33:08 PM
#520   Deregistered only means they will stop filing on SantaZar 04/16/16 09:24:00 AM
#519   Wrong. Only the SEC or FINRA can put SantaZar 04/16/16 09:18:22 AM
#518   Got some 22 on the way up. willlbone 04/13/16 03:48:31 PM
#517   Form 15 and it can only be effective ErnieBilco 04/13/16 03:31:04 PM
#516   Most stocks that delist from Nasdaq mention they willlbone 04/13/16 03:14:18 PM
#515   Not really - they pretty much go hand ErnieBilco 04/13/16 03:05:21 PM
#514   Delisted (Bad) and Deregistered (Extremely bad). willlbone 04/13/16 01:16:06 PM
#513   MOLG so GLOM yo money and run. willlbone 04/13/16 12:43:50 PM
#512   Seriously shouldn't be dropping anymore.......................................W tehXII7 08/10/15 02:00:34 PM
#511   Aug 21st is the earnings report. Every time tehXII7 08/06/15 10:39:35 AM
#510   I see that trading is halted, are they tehXII7 08/05/15 11:15:22 AM
#509   When is the 2Q15 earnings call? tehXII7 08/05/15 10:01:17 AM
#508   I know it, this has been one big ThoroughBread 07/10/15 06:33:07 PM
#507   But why the drop, short selling? I don't tehXII7 07/10/15 10:43:10 AM
#506   and molg shares, worth 1.33... ThoroughBread 07/09/15 08:05:08 PM
#505   Last millisecond of large block trading today revealed times2times2 06/04/15 04:04:23 PM
#504   SEA macro news looks good 3DPrintInvestor 05/20/15 08:37:58 AM
#503   Listing costs, employee share based compensation, and share keyownknee 05/01/15 06:56:19 PM
#502   Not that bad tehXII7 05/01/15 12:45:35 PM
#501   From 20-F: keyownknee 05/01/15 10:21:28 AM
#500   Slowly creeping up a few cents a day cjmeyer 04/13/15 04:26:06 PM
#499   correct!...SP does not reflect revenue and balance sheet times2times2 03/27/15 06:35:04 PM
#498   Q4 revenue growth 28% 3DPrintInvestor 03/27/15 08:22:51 AM
#497   Is this the buyback or a run before earnings? uptowndw 02/03/15 02:11:14 PM
#496   Nice news JJL 01/26/15 08:29:45 AM
#495   $MOLG news: MOL Global Announces Partnership With COSWAY 3DPrintInvestor 01/26/15 08:03:39 AM
#494   This is looking bottomed. jmo JJL 01/25/15 11:09:51 AM
#493   Not sure. I got out of hear a little solmer 01/20/15 10:45:17 PM
#492   When is earnings for this POS? uptowndw 01/20/15 10:26:06 AM
#491   Last little attempt at a shakeout here? solmer 01/05/15 08:10:28 AM
#490   That 15 million dollar share buyback if it's solmer 01/01/15 06:31:12 AM
#489   Great looking chart here. January effect may take this solmer 01/01/15 06:26:50 AM
#488   MOLG 2.9 flat base on top of 10d. PAC 12/28/14 11:12:02 PM
#486   Breakout.... Obelax 12/22/14 10:14:25 AM
#485   Urgh so mad I didn't wait lol oh CaptainWeee 12/19/14 10:39:01 AM
#484   I try very hard not to make buys wshswr48 12/19/14 10:38:12 AM
#483   Yeah looking like it. Need to learn to CaptainWeee 12/19/14 10:36:27 AM
#482   I think we'll see steady up movement now. wshswr48 12/19/14 10:33:27 AM
#481   Yeah pissed I panic sold though, it seems CaptainWeee 12/19/14 10:25:35 AM
#480   Yeah it's def a big difference from pinky land wshswr48 12/19/14 10:23:45 AM
#479   Freaking panic sold them, cause of how I CaptainWeee 12/19/14 10:21:05 AM
#478   Pissed I bought those damn $3.00s to try CaptainWeee 12/19/14 10:20:32 AM