SINGAPORE (04/20/2000) - Regional Web portal Catcha.com Pte. Ltd. will launch its initial public offering (IPO) on the Singapore Exchange main board within the next two months, the company announced today.
Shares will be offered to members of the public in Singapore and to qualified institutional buyers in Asia, Europe and the U.S., Catcha.com said in a statement. The company did not say how much it intends to raise through the IPO.
The nine month-old Catcha.com runs a network of localized country portals in Southeast Asia and closely follows the start-up dot.com model in its heavy investment in expansion and promotions to gain a first-mover advantage.
Catcha.com is the first local portal to provide content and community activities via the Internet, SMS (short messaging service) and WAP (Wireless Application Protocol) throughout Singapore, Malaysia, Indonesia, Australia, the Philippines and Thailand, the company said.
Catcha.com bases its business model on other successful localized portals throughout the world such as Latin America's Starmedia.com, Chinese portals China.com and Sina.com and Australia's Ninemsn.com, the company said.
In its short history, Catcha has raised over US$10 million from investors which include multimedia company Creative Technology Ltd., Axiom Investments, Imperial Technologies and the Shaw Organization.
Catcha is online at http://www.catcha.com/.