Circles Eyes Listing on Nasdaq, Telco Targets Singapore IPO

Plan Would Let Software Business and Telco Grow, Yet Benefit From Shared Roots: CEO

- Tay Hong Yi

The parent company of local virtual telco pioneer Circles.Life may opt for a listing on the Nasdaq in New York, while the telco itself looks to hold an initial public offering (IPO) on the Singapore Exchange (SGX).

Mr Rameez Ansar, who is the chief executive officer and co-founder of Circles, told The Straits Times on May 27 that the IPOs will depend on market conditions and regulators in Singapore and the US.

He noted that the double listings would aim to let Circles.Life and the fast-growing Circles software business focus on how they can each best grow, yet retain the benefits of their shared roots.

Though he was reticent to pin down when the IPOs might occur, Mr Ansar noted the company has a two-year target to reach "world-class" business metrics to secure sterling share performance.

"We should be (in a position where), if we have to flip a switch and list, we'd have a good starting point in the US business," he said, adding that the company has already tied up with American telecommunications giant AT&T.

The software business sells and helps deploy a one-stop platform that allows telcos to oversee billing, activate e-SIM cards and provide customer service, among other features.

The software, called Circles X and originally built for Circles.Life, has now been adopted by customers as far afield as Japan, Pakistan and Mexico.