Tune Talk has established an Employee Share Trust Scheme (ESTS), marking a significant shift in how it compensates and retains its workforce. By positioning staff as equity participants, the telco aims to link individual performance directly to corporate value, particularly as it accelerates its trajectory toward a potential Initial Public Offering (IPO).
A first for a Malaysian telecommunications provider, Co-founder and CEO Gurtaj Singh Padda has voluntarily transferred 4.15% of Tune Talk’s total issued share capital into a dedicated Trust Fund. This commitment ensures that the shares are held for the exclusive benefit of the employees, managed by appointed Trustees to ensure long-term stewardship.
- (Image source: Tune Talk.)
What Does This Mean?
This initiative transforms employees from standard salaried workers into stakeholders with a vested interest in the company’s market valuation. Unlike traditional bonus structures that offer one-time cash payouts, the ESTS provides a mechanism for sustainable wealth accumulation. For the average employee, this means their daily contributions could translate into significant financial assets if the company hits its growth targets and successfully lists on the stock exchange.
The timing of the ESTS is intentionally aligned with Tune Talk’s IPO roadmap. The Trust serves as a strategic bridge, allowing the company to distribute dividends or performance-based rewards even before the company goes public. Once the IPO occurs, the Trust will transition into a vehicle to help employees acquire shares under an Employee Share Option Scheme (ESOS) framework. This ensures that the workforce is not sidelined during the value-creation phase but is instead positioned to grow financially alongside the business.
A New Standard For Employee Welfare
Beyond simple equity, Tune Talk says the scheme is designed to bolster the economic resilience of its staff. The Trust Fund is empowered to provide financial support for employee welfare where necessary, looking beyond statutory contributions and monthly pay. This move aligns with efforts to encourage long-term financial wellbeing and modernises the relationship between high-growth tech companies and their talent pools.
CEO Gurtaj Singh Padda emphasised that the Trust is a response to the evolving expectations of the modern workforce. He noted that employees increasingly seek tangible evidence of their impact on a company’s success.
IPO Soon?
While the establishment of the ESTS signals that Tune Talk is nearing an IPO, there is currently no confirmed date or official timeline for when it will take place. The company has characterised the move as an “acceleration” of its path toward a public listing, but it has not yet filed a formal prospectus with the Securities Commission Malaysia.
Mirroring Global Trends
Tune Talk’s strategy reflects a high-stakes trend seen among the world’s most valuable private companies, most notably OpenAI. According to reports, the AI giant has recently undertaken radical shifts in its equity structure to retain elite talent. In late 2025, OpenAI made headlines by entirely eliminating its “vesting cliff”, the traditional one-year waiting period before employees can access their shares, allowing new hires to receive equity grants immediately upon joining.
Furthermore, Reuters reported that OpenAI completed a massive secondary share sale in late 2024, followed by plans for even larger buybacks in 2025 and 2026. This would allow employees to cash out billions of dollars in equity at valuations reaching as high as US$500 billion.
(Source: Tune Talk press release)
