Netccentric Limited is a nine-year-old digital media business based in Singapore that is seeking to raise up to $10 million to fund accelerated consolidation in Australia, Malaysia, the Philippines and Thailand, as well as expanding into new markets such as Taiwan.

"We were profitable in year one and have been reinvesting that every year; but we reached a point where we didn't have enough cash to grow as fast as we wanted," company founder Cheo Ming Shen told Fairfax Media when he announced plans to list the company.

The business consists of a series of brands including online video advertising unit Reelity and social media promotion unit ChurpChurp, as well as a range of digital agency model businesses. Several of the smaller businesses are owned through joint venture agreements with companies based in Malaysia.

The core of the business is Nuffnang, an ad-serving software used by 950,000 bloggers in Australia and south-east Asia. This unit combined with ChurpChurp brought in more than half of the Netccentric's $11 million in revenue last year.

Its largest market is Malaysia, which contributes 39 per cent of the revenue, followed by Singapore with 30 per cent and Australia with 14 per cent.

Shares will begin trading at 20¢. Slightly more than 70 per cent of the shares to be offered on Monday  are underwritten by high net-worth individuals such as Kevin Tsai Shao Chung, president of Want Want China Media Group, which includes two TV stations and several newspapers in China and Taiwan.

The initial public offering will be the first external capital taken on by the company, after the cofounders Shen and Timothy Tiah originally put in $60,000 of their own money.

The company plans to focus on growth and does not expect to pay dividends "in the foreseeable future".