The streamer has until the end of July to complete an IPO, after which creditors could call in their debts, leaving the company with little room for manoeuvre, according to DealStreetAsia.
Iflix is up for sale following the departure of co-founders Patrick Grove, the company’s chairman, and Luke Elliott in April. Two executives from Australia-based distressed asset specialist Mandala Asset Solutions have been appointed to oversee the whole process.
The streamer has until the end of July to complete an IPO, after which creditors could call in their debts, leaving the company with little room for manoeuvre, according to DealStreetAsia.
Iflix went through a restructuring in November last year, when COO Marc Barnett took over as managing director, and co-founder, Mark Britt, moved to head up advertising sales.
iflix had also partnered with Zain in Kuwait to gain a foothold in the MENA market but the streamer eventually exited the market.
