TNG Digital Becomes Unicorn in Malaysia, Mulls IPO, CIMB Says

TNG Digital Sdn, Malaysia’s largest fintech company, has reached unicorn status and will weigh an initial public offering, according to shareholder CIMB Group Holdings Bhd.

“We are very confident that TNG is already qualified as a unicorn,” Gurdip Singh Sidhu, country head of Malaysia, CIMB Bank Bhd., told reporters on Tuesday. “The question of IPO is something we will assess, but it’s not something we are rushing into.”

The operator of one of Malaysia’s most popular e-wallet apps is the country’s newest unicorn — a startup valued at over $1 billion — joining Carsome Group, which operates a ...