KUALA LUMPUR: ReSkills Edtech Sdn Bhd, a locally established global platform for online learners, is preparing the S-1 filing for a listing on New York’s Nasdaq exchange to expand its presence regionally and internationally.
Founder and CEO Jin Tan said the company is aiming to complete the exercise by the end of this month and expects the listing to take place by December or early 2025, depending on Nasdaq’s approval processes.
“We chose Nasdaq over Bursa Malaysia primarily due to our substantial international user base, which extends far beyond Malaysia.
“A global presence is essential for our branding, and Nasdaq offers a significant advantage as the leading market for technology companies. This platform provides us with more resources and momentum, enabling us to scale to the next big level,” he told SunBiz.
Tan said ReSkills is operating at a net cash level, focusing on acquiring more learners and coaches to increase platform activity.
After the listing exercise, he added, ReSkills will aggressively pursue market expansion and technological upgrades, with an emphasis on artificial intelligence (AI) elements.
“We also plan to explore mergers and acquisitions to enhance our ecosystem and expand into other segments of education technology, ultimately aiming to become a global leader in the edutech sector,” he said.
Tan also said ReSkills has raised two rounds of funding for the Nasdaq listing and will not raise any funds through the initial public offering as the company opts for a direct listing.
“Listing on Nasdaq will provide global exposure, increasing our popularity both regionally and internationally. This visibility will boost our credibility when engaging with government education agencies worldwide.
“Additionally, the heightened brand awareness and recognition are expected to significantly increase our revenue by attracting more subscribers to ReSkills.
“Post-listing, we plan to raise another round of funds next year. The funds will be allocated for market expansion, technological advancements, mergers and acquisitions, and recruiting more talent to strengthen our current team,” Tan said.
He said ReSkills has witnessed a strong market trend for online education and learning, which has steeply risen since the pandemic, particularly in the region and other developing countries.
“Today, online learning is not just a trend but the future, with the younger generation accustomed to it from early school days. This growing momentum is a significant factor in our decision to go public now,“ he said.
Tan said that after its Nasdaq listing, ReSkills will make significant adjustments to accommodate a larger and more vibrant market.
“For now, we plan to expand our team by hiring more professionals and implementing more systems and automation into our business processes. AI technology will be a key focus, with plans to integrate AI language translation, AI learner mapping, and AI coaching systems to enhance our services,” said Tan.
He added that the management team, coaches, and learners are looking forward to the listing, seeing it as a significant growth opportunity for ReSkills.
“We have been restructuring and enhancing our management team since early this year to prepare for this move. This listing has been a long-term goal, and our team is ready to support and achieve it,” Tan said.
