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MobileOne Ltd (M1) was formed in August 1994 to enter the rapidly expanding mobile telecommunications market in Singapore.
In May 1995, it won the licence to operate Singapore's second cellular telephone service as well as a radio paging service. Both services were launched on 1 April 1997 when the previous monopoly ended. Within three weeks of its launch, M1 signed up more than 35,000 cellular customers, one of the world's highest take-up rates for a new market entrant then. On 4 December 2002, M1 was listed on the Singapore Exchange in Singapore's largest public offering in three years and the third largest of all times. Founding shareholders -- Keppel Telecoms (14.16%), SPH Multimedia (14.16%) and Great Eastern Telecommunications (12.14%) -- now jointly own 40.46% of M1 with the rest owned by institutional and public investors. |
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