Streaming service Iflix expected to list on Australian Securities Exchange
Kuala Lumpur-based video streaming service Iflix is rumoured to be looking to list on the Australian Securities Exchange.
The firm has been in touch with investment banking firms such as Goldman Sachs, UBS, Macquarie Capital, Citi and Credit Suisse, according to a report in The Australian Financial Review. Aspects under discussion included Iflix’s valuation and marketing strategy.
The valuation is expected to be over $1bn, making it a unicorn company.
When contacted by Mumbrella, an Iflix spokesperson said: “As a policy, we do not comment on speculation and rumour.”
Market conversation would support an understanding that Iflix is on the slide not the rise. Should’ve packaged it up and sold it off by now lads.
An Asia only streaming service with no local market presence choosing to list on the Australian exchange, not in it’s headquarted base of Maylasia? Smells heavily of a 1MDB connection somewhere.
Iflix isn’t worth $100 let alone a billion
So looks like they are running out of cash and try to get money from the stock exchange. Seems like they are desperate.
There just seems no way in the current climate that iflix can price its IPO valuation even remotely close to its series D valuation of c700M (forget about the 1B unicorn floating i have seen touted here and there on the interwebs), which is not a shame in itself, IPO down-rounds are picking up lately, especially in Asia. I would be amazed if iflix manages to price its shares at or around the 300M it has raised so far. It seems current investors are pushing for an exit and are willing to take the haircut.