MyRepublic, a Singapore-based internet and telecommunications service provider backed by telecoms firm DST Communications, is seeking up to S$250m ($178m) in funding, Reuters reported yesterday.
The company is in talks with investors and hopes to raise the capital by April this year, according to Tech in Asia, though prospective participants in the round have not so far been disclosed.
MyRepublic offers broadband internet and mobile data services, and is planning to bid for Singapore’s fourth full telecommunications licence, which will shortly awarded by the country’s Infocomm Development Authority.
The round would follow $43.5m of funding already raised by MyRepublic in the past two years.
Dian Swastatika Sentosa, an energy subsidiary of conglomerate Sinar Mas, invested $3.5m in the company in May 2014, before Sunshine Network, a telecoms subsidiary of Sinar Mas, led a $24m round two months later that also included private investor Xavier Niel.
DST subsequently joined undisclosed investors for a $16m round in September 2015. In addition to its funding and licence plans, MyRepublic plans to go public in the next three years, according to a Morgan Stanley report.