Catcha.com, a Singapore-based internet search engine and portal operator, plans to list an undisclosed number of shares in an initial public offering on the Singapore Stock Exchange to raise money for advertising, content and the development of online shopping malls.
In a preliminary offering document dated May 12, the company said it provides local internet content and e-commerce opportunities through websites in Singapore, Malaysia, Indonesia, Thailand and the Philippines. It also provides data, including stock quotes, news and movie listings through WAP portals in Singapore and Malaysia. WAP, or wireless application protocol, allows users to access the web through wireless devices such as mobile phones.
The company, which was formed in July 1999, said it will announce financial details of the listing within the next two weeks. Catcha.com gathers content for its websites from third parties such as Channel News Asia, Dow Jones and Agence France Presse, and local news from companies such as SGX-ST and the New Straits Times in Malaysia and Kompas in Indonesia.
The company faces competition from local portals and big internet service providers in each of its markets. It posted a loss of S$1.83 million ($1.06 million) on revenue of S$64,671 between July and December 1999. It reported a loss of S$3.37 million in the first quarter ended March 31 this year.
Credit Lyonnais Securities Asia is lead manager of the sale.
