Vincent Tan to list MOL Global on Nasdaq in October

[KUALA LUMPUR] Tycoon Vincent Tan is listing MOL Global Pte Ltd on Nasdaq in the US in October and expects the company to be worth US$3 billion in five years.

MOL, which bought social networking site Friendster Inc in 2009 for US$26.4 million, expects a market capitalisation of U$1 billion upon listing.

"Potentially, MOL can be a very big company. If you look at the market capitalisation of Internet companies, they are huge. China's Alibaba is worth almost US$300 billion, while Tencent, which owns WeChat, is around US$150 billion.