Mongolian conglomerate MSM Group has sold a majority stake to Singapore’s Jebsen & Jessen Group while Malaysia’s VentureTECH has partnered with the Tokyo Stock Exchange to help Asian firms list in Japan.
Mongolia’s MSM Group sells majority to Jebsen & Jessen
Mongolian conglomerate MSM Group has announced that it has sold a majority stake in the company to Singapore-headquartered Jebsen & Jessen Group for an undisclosed amount.
The acquisition will make MSM Group the seventh business unit within the Jebsen & Jessen Group. It will continue to operate under its current name and leadership and maintain its operations and business proceedings as usual.
MSM Group, founded in 1998, is a conglomerate with interests in industrial, automotive, chemical, agricultural, and beverage sectors. It is the sole distributor and partner for more than 50 premium international brands in the country today.
“Joining Jebsen & Jessen Group provides us with the potential to scale our operations to levels we have never achieved before. These are exciting times for our teams and the brands we represent,” said MSM Group CEO Mark Gabel, who will remain CEO of the group after the acquisition.
VentureTECH and TSE collaborate to facilitate listings in Japan
Malaysia’s state-linked strategic investment company VentureTECH announced that it has partnered with the Tokyo Stock Exchange (TSE) to support the listing of multinational companies on the Japanese exchange.
The partnership not only opens new horizons for Malaysian companies but also reinforces its commitment to driving the growth of high-potential local businesses, said VentureTECH CEO Ahmad Redzuan Sidek.
Through the partnership, VentureTECH will provide support in response to requests from TSE Asia Startup Hub, an initiative by the TSE to attract promising Asian companies for initial public offerings (IPOs) in Japan.
The TSE Asia Startup Hub will begin recruiting eligible companies in Q3 2024, with a focus on businesses that exhibit strong connections with Japan or possess significant potential for growth.
