Singapore software firm Info-Tech Systems debuts 9.2% above IPO price at $0.95
This comes two days after its initial public offering (IPO) closed at noon, with its 24.85 million shares on offer around 7.3 times oversubscribed.
SINGAPORE - The Republic welcomed its second listing in 2025 and first mainboard listing in close to two years with software services provider Info-Tech Systems' trading debut on Jul 4.
This comes two days after its initial public offering (IPO) closed at noon, with its 24.85 million shares on offer around 7.3 times oversubscribed.
At 9am, it opened at $0.95, 9.2 per cent above its IPO price of $0.87, with the stock code ITS.
As at 9.03am, it climbed as high as $0.98, up by 3.2 per cent, with some 1.8 million shares having changed hands. By 9.30 am, it had eased back down to $0.95, with around 4.1 million shares transacted.
Info-Tech Systems' mainboard listing follows that of automaker Vin's Holdings on the Catalist board on Apr 15.
It is the first pure-play, software-as-a-service provider for human-resource management systems and accounting software to list on SGX.
Mr Babu Dilip, chief executive officer and co-founder of the company, described the IPO as a 'key milestone' for the group as it gears up for its next phase of growth, and looks to capitalise on the rising adoption of cloud-based solutions, particularly among small and medium-sized enterprises.
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It intends to use the IPO proceeds to deepen market penetration, enhance brand visibility, expand its suite of solutions and its operations, he said.
This includes potentially expanding its geographical presence to new markets and accelerating access to new technology through inorganic acquisitions and partnerships.
For the financial year ended December 2024, the company recorded a 17.6 per cent rise in its net profit to $12.3 million. Its top line grew by around 15 per cent year on year to $43.7 million, tracking a rise in revenue of its cloud accounting software.
OCBC is the sole issue manager and global coordinator for the placement, as well as the joint bookrunner and underwriter alongside CGS International Securities Singapore.
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