Vincent Tan – The history and IPO of 7-Eleven Malaysia
By YEO Shan Rui
Tan Dato’ Seri Vincent Tan Chee Yioun (commonly known as Vincent Tan) is the owner of Cardiff City Football Club and the Berjaya Group in Malaysia. The success of his empire can be traced back to the untendered privatization of Sports Toto from the government of Malaysia in 1985 . Being one of three legalized lotteries operators, the cash flow has allowed him to diversify and build his conglomerate.
In the past 1 year, a number of his companies have attempted an IPO – Caring Pharmacy, Berjaya Auto, 7-Eleven Malaysia, MOL Global and Sports Toto Trust. While there have been speculation on the various reasons for the IPO spree, let’s focus our attention on 7-Eleven Malaysia.
Multiple rounds of listing and delisting
What’s make 7-Eleven Malaysia interesting was their history of numerous IPO and privatization attempts. Vincent Tan bought over the 7-Eleven franchise from Antah Holdings in 2001 through his Berjaya Group Berhad. Continue reading