MyRepublic reveals plan to raise $250m to prepare for upcoming IDA spectrum auction

It’s also mulling introducing a pre-5G network.

The budding telco has long lingered around the sidelines of the telco business and often overshadowed by the incumbents.

However, the spectrum auction by the Infocomm Development Authority of Singapore (IDA) to foster to a healthy and competitive telco landscape may be the break that MyRepublic has needed.

According to a press release by MyRepublic, it’s looking forward in the spectrum auction, a

“We are working with investors to raise $250 million. We are in talks with a number of strategic partners to roll out a Next Gen pre-5G network,” the press release said.

The telco added that it plans to finish the preparations for the bid by April 2016.

“Today we are extremely heartened by how the IDA has recognised the need to increase competition in the Singapore mobile market, to elevate the standard of services telcos provide to their consumers, and to take measured steps towards making Singapore a truly Intelligent Nation,” the press release added.