Sub-Sea Cable Firm OMS Weighs $300 Million Malaysia IPO, Sources Say

OMS Group Sdn., a Malaysia-based company that installs cable underwater, is weighing a listing in Kuala Lumpur as soon as next year that could raise as much as $300 million, according to people with knowledge of the matter.

The company is working with financial advisers on the planned first-time share sale, said the people, who asked not to be identified as the process is private. It is seeking a valuation of over $1 billion based on strong earnings growth and increased spending among telecommunications operators on digital infrastructure, the people said.