Asia Travel Network Sdn Bhd (ATN), a Malaysian on-line reservation system provider, plans to become the first Malaysian company to obtain a front-door listing on the Nasdaq. Chief executive Alex Kong said the company will restructure its organization and shareholding before listing. The restructuring would involve the formation of a holding company abroad, he said, and this would see the current Malaysian entity turned into a research and development center. Kong said the holding company would become the vehicle for ATN to seek a listing on Nasdaq in the second half of next year.
ATN currently covers about 80 countries, more than 3,000 travel suppliers and nearly 15,000 wholesale travel-products and services, Kong said. It provides a platform for travel buyers and sellers from around the world to trade their travel-related products and services over a secured internet connection.
TechnoChannel Technologies Sdn Bhd, a Malaysian internet content and service provider, got a Nasdaq listing last February following a reverse takeover in which it emerged as a major shareholder of US company Asia Media Communications Ltd.
