Malaysian digital marketing firm Starbox Group files for $23M IPO

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Malaysian digital marketing firm Starbox Group (STBX) has filed for a proposed $23M initial public offering.

The company said it plans to offer 5M ordinary shares, priced between $4 and $5 per share, which would raise around $22.5M if priced at the midpoint.

Starbox hopes to list its shares on Nasdaq. Network 1 Financial Securities is serving as lead bookrunner.

Starbox offers cash rebate, digital advertising and payment services to micro, small and medium-sized businesses. The company operates through subsidiaries in Malaysia.

For the fiscal year ended Sept. 30, 2021, the company posted net income of $1.5M on revenue of $3.2M.

For a more in-depth look at Starbox, check out SA contributor Donovan Jones’s “Starbox Group Holdings Aims for $23 Million US IPO”.