Malaysian Internet TV Firm Lists on Nasdaq

A local company that offers a system to access the Internet via television has listed on the US-based National Association of Securities Dealers Automated Quotation, or Nasdaq, a first for Malaysia.

TecnoChannel Sdn Bhd made its debut in February in a reverse takeover of listed Asia Media Communications Ltd (AMC), through a new US$8.5 million common shares issue. As a result, AMC has ceased all its previous operations, assumed its new businesses and will change its name to MyWeb pending shareholder approval.

“We chose Nasdaq because it is currently the equity market of choice for technology companies and will give us greater recognition and access to global markets,” said TecnoChannel chairman Ahmad Mustaffa Babjee. Nasdaq has seen an upsurge in recent months, mainly driven by technology and Internet-related stocks.

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