Immersive entertainment group Neon has picked financial advisers for its potential initial public offering in Singapore, according to people with knowledge of the matter.
Neon has chosen DBS Group Holdings, HSBC Holdings, Morgan Stanley and UBS Group to help with the first-time share sale, the people said, asking not to be identified as the process is private. Other advisers could be added to the list, one of the people said.
Bloomberg News reported in September that Neon was interviewing financial advisers and considering an IPO as soon as next year to raise S$400 million to S$500 million.
Considerations are ongoing and details such as the size and timing of an IPO could change, the people said.
Neon didn’t respond to a request for comment. Representatives for DBS, HSBC and Morgan Stanley declined to comment, while UBS didn’t immediately reply.
Neon produces immersive experiences with franchises including Marvel’s Avengers, Jurassic Park and The Hunger Games, according to its website. It also partners with Peru and Egypt on exhibitions of historical sites.
Temasek Holdings’ 65 Equity Partners invested S$150 million in Neon in 2022 after the company, then named Cityneon Holdings, had raised S$235 million in a funding round. Other investors include Pavilion Capital, Seatown Holdings International and an arm of Singapore’s Economic Development Board. Citic Capital and Doha Venture Capital are also shareholders. BLOOMBERG
