Malaysia tycoon considers IPO of 7-Eleven stores-Bernama

PHOTO: Malaysia tycoon considers IPO of 7-Eleven stores-Bernama

KUALA LUMPUR - Malaysian billionaire Vincent Tan is considering listing his 7-Eleven convenience-store franchise as early as this year, state news agency Bernama reported.

Tan also said that an initial public offering was one of the options for Cardiff City football team, confirming an earlier report by Reuters.

"We are looking at several options to raise money to pay the banks," Tan, who owns 36.1 percent of the club, was quoted as saying by Bernama.

"I have invested so much, so now I need to raise some money. Listing is one of the options," he said, adding that a decision would be made in the next few months.

Tan, Malaysia's tenth richest person with a net worth of $1.3 billion according to Forbes, said the proceeds from the listings are mainly for debt repayment.

Tan was unavailable for comment. He owns 7-Eleven Malaysia Sdn Bhd through Berjaya Retail Bhd.