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The Malaysianist

What’s up with TNG Digital’s IPO spin?

No pressure to list, but someone’s eager to keep the story alive.

Oct 06, 2025
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It’s Monday, so I’ll keep it light. Since the grapevine buzzes non-stop, I’ve got two stories today:

  • 🚦 IPO deja vu: why does TNG Digital keep feeding the media?

  • 💸 Should DFIs really be dabbling in startups and VC?

🚀 Oh, I added 𖡎 t-r-i-v-i-a in the middle of the newsletter. As usual, let’s see if I can crank up enough questions to keep the puzzles running.

But, first, the usual ICYMIs:

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In the latest issue of The Edge, there’s a piece headlined “TNG Digital listing in the works, sources say, but company insists it’s in no hurry”.

If you think that reads like deja vu, it is. And there’s some eyebrow-raising stuff going on that’s worth unpacking.

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