(Nov 27): U Mobile, a Malaysian mobile service provider, is planning to raise about $500 million ($683 million) in an initial public offering in Kuala Lumpur, according to people familiar with the matter.

The wireless carrier has asked banks for proposals to help with the potential share sale, the people said. The company is set to pick advisers soon for a listing that could happen as early as the end of 2020, said the people who asked not to be named as the information is private.

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