Latest news with #Info-TechSystems
Business Times
a day ago
- Business
- Business Times
Info-Tech Systems closes 4.6% above IPO price on first day of trading
[SINGAPORE] Software services provider ended its first trading day at S$0.91 on Friday (Jul 4), 4.6 per cent above its initial public offering (IPO) price. The counter opened at S$0.95 with the stock code ITS, reaching as high as S$0.98 in Singapore's second listing for 2025 and first mainboard listing in close to two years. The Singapore-headquartered firm's trading debut comes two days after its IPO closed, with some 24.9 million shares fully subscribed at S$0.87 apiece. Its IPO comprised an international placement of around 19.9 million shares allocated for selected investors, which was 5.5 times subscribed, and an offer of five million shares available to the Singapore public, which was 14.4 times subscribed. This translates to a subscription rate of 7.3 times for all the shares on offer. Established in 2007 by Babu Dilip, the company's chief executive officer, and Peter Lee, the group's executive chairman, Info-Tech Systems offers software services to improve the efficiency of human resource operations – including payroll, leave management and performance appraisal – and targets small and medium-sized enterprises. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The IPO proceeds will go towards deepening Info-Tech System's market penetration, enhancing its brand visibility as well as expanding its suite of solutions and operations, said Babu. This could include expanding the group's geographical presence to new markets and accelerating access to new technology through inorganic acquisitions and partnerships. The firm also operates in Malaysia, Hong Kong and India. For the financial year ended December 2024, the company recorded a 17.6 per cent rise in its net profit to S$12.3 million. Its top line grew by around 15 per cent year on year to S$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. The IPO comprised new shares issued and an offering of vendor shares by Lee and executive director Yeoh Sin Yee. 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 the Singapore Exchange.
Business Times
a day ago
- Business
- Business Times
Info-Tech Systems debuts on SGX mainboard at S$0.95, 9.2% above IPO price
[SINGAPORE] Software services provider started trading on Friday (Jul 4), as Singapore welcomed its second listing in 2025 and first mainboard listing in close to two years. At 9 am, it opened at S$0.95, 9.2 per cent above its IPO price, with the stock code ITS. It climbed as high as S$0.98 at 9.03 am, up 3.2 per cent or S$0.03 from its opening price, with some 1.8 million shares changing hands. By 2.06 pm, it was down 4.7 per cent or S$0.045 at S$0.905, with 7.2 million shares transacted. Info-Tech Systems' trading debut comes two days after its initial public offering (IPO) closed, with some 24.9 million shares fully subscribed at S$0.87 apiece. The IPO comprised an international placement of around 19.9 million shares allocated for selected investors, which was 5.5 times subscribed, and an offer of five million shares available to the Singapore public, which was 14.4 times subscribed. This translates to a subscription rate of 7.3 times for all the shares on offer. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Established in 2007 by Babu Dilip, the company's chief executive officer, and Peter Lee, the group's executive chairman, Info-Tech Systems offers software services to improve the efficiency of human resource operations – including payroll, leave management and performance appraisal – and targets small and medium-sized enterprises. The IPO proceeds will go towards deepening Info-Tech System's market penetration, enhancing its brand visibility as well as expanding its suite of solutions and operations, said Babu. This could include expanding the group's geographical presence to new markets and accelerating access to new technology through inorganic acquisitions and partnerships. The Singapore-headquartered firm also operates in Malaysia, Hong Kong and India. For the financial year ended December 2024, the company recorded a 17.6 per cent rise in its net profit to S$12.3 million. Its top line grew by around 15 per cent year on year to S$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. The IPO comprised new shares issued and an offering of vendor shares by its executive chairman and co-founder Peter Lee and executive director Yeoh Sin Yee. 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.
Business Times
2 days ago
- Business
- Business Times
Info-Tech Systems debuts 9.2% above IPO price at S$0.95
[SINGAPORE] The Republic welcomed its second listing in 2025 and first mainboard listing in close to two years as software services provider Info-Tech Systems made its trading debut on Friday (Jul 4). This comes two days after its initial public offering (IPO) closed at noon on Jul 2, with its 24.85 million shares on offer around 7.3 times oversubscribed. At 9 am, it opened at S$0.95, 9.2 per cent above its IPO price of S$0.87, with the stock code ITS. As at 9.03 am, it climbed as high as S$0.98, up by 3.2 per cent or S$0.03, with some 1.8 million shares having changed hands. By 9.30 am, it had eased back down to S$0.95, with around 4.1 million shares transacted. Info-Tech Systems is the second company to list on the Singapore Exchange (SGX) in 2025, following the listing 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 system and accounting software to list on SGX. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Babu Dilip, chief executive officer and co-founder of the company, said that the IPO is 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. 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 S$12.3 million. Its top line grew by around 15 per cent year on year to S$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. The IPO comprised new shares issued, and an offering of vendor shares by its executive chairman and co-founder Peter Lee and executive director Yeoh Sin Yee.
Business Times
27-06-2025
- Business
- Business Times
Info-Tech Systems launches IPO at S$0.87 apiece, marks SGX's first mainboard listing in two years
[SINGAPORE] Software services firm Info-Tech Systems has launched its initial public offering (IPO) of 24,856,000 shares at S$0.87 each, in conjunction with its mainboard listing on the Singapore Exchange (SGX). The firm registered its prospectus earlier on Friday (Jun 27) and its shares are expected to begin trading on Jul 4. Info-Tech Systems is the first pure-play software as a service (SaaS) provider for HRMS and accounting software to list on SGX. Its listing will mark SGX's first mainboard offering in two years, following the debut of live-streaming platform 17Live Group in November 2023. It would be the second company to list on SGX and the first on the mainboard in 2025, after Vin's Holdings went public on the Catalist board in April. Earlier this week, Lum Chang Creations filed a preliminary prospectus for a Catalist listing, and media reports suggest Japan's NTT Data Group may list a data centre Reit (real estate investment trust) on SGX by July. When asked why Info-Tech Systems chose to list in Singapore, CEO and co-founder Dilip Babu told The Business Times: 'We are a Singapore-born company and the majority of our revenue comes from Singapore. (The country) is known for good standards, regulations and compliance, which gives us good branding in the local market as well as overseas markets' He added that Singapore is naturally the right choice for the firm and a listing here will help it grow faster and provide a clearer advantage than listing anywhere else. IPO details For Info-Tech Systems' proposed IPO, OCBC serves as the sole issue manager and global coordinator, with CGS International Securities Singapore joining as joint bookrunners and underwriters. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up The offering of 24,856,000 shares includes 19,856,000 shares allocated for selected investors outside the US and in Singapore, and the remaining 5,000,000 shares made available to the public in Singapore. As part of the offering, Info-Tech Systems executive chairman Peter Lee has granted the joint bookrunners and underwriters an option to purchase up to 4,900,000 additional shares, representing approximately 19.7 per cent of the total offering. Additionally, cornerstone investors – including Asdew Acquisitions, Avanda Investment Management, Dymon Asia Multi-Strategy Investment Master Fund, Ginko-AGT Global Growth Fund, Lion Global Investors, Maybank Asset Management Singapore, Nikko Asset Management Asia, Qilin Wealth Fund, and Splendid Asia Macro Fund – have entered into separate agreements with the company and Peter Lee to purchase a total of 41,144,000 shares. This includes 27,353,000 newly issued shares from the company and 13,791,000 shares sold by Lee at the offering price. Cornerstone investors are large institutional investors that subscribe to an IPO offering before it is open to the public. Following the offering, Info-Tech Systems will have a share capital of 258,000,000 shares, giving the company an estimated market capitalisation of approximately S$224.5 million. The firm expects to raise net proceeds of around S$23.4 million from the offering and the issuance of cornerstone shares. These funds will be used for research and development of new product lines and associated promotional activities, enhance sales and marketing activities for each of their existing markets and product lines as well as for expansion into new markets and capital to fund potential acquisitions. The IPO will close at noon on Jul 2, with the listing and trading of Info-Tech's shares expected to commence on a 'ready' basis at market open on Jul 4. High profitability Co-founded by Lee and Babu in 2007, Info-Tech Systems is headquartered in Singapore and has expanded into Malaysia, Hong Kong, and India. The firm offers user-friendly, accessible, and affordable software solutions strategically targeted at small and medium enterprises (SMEs). With strong profitability over the past three financial years, Info-Tech Systems boasts a healthy balance sheet with net cash of S$29.7 million as of 31 December 2024 and no bank borrowings. In FY2024, the firm's revenue grew from S$30.8 million in FY2022 to S$43.7 million, achieving a compound annual growth rate (CAGR) of 19 per cent. During the same period, profit after tax (PAT) rose from S$7.2 million to S$12.3 million, reflecting a CAGR of 31.1 per cent. This growth resulted in a PAT margin of 28.2 per cent in FY2024, up from 23.3 per cent in FY2022. Although Info-Tech Systems currently does not have a fixed dividend policy, it intends to recommend and distribute dividends of no less than 50 per cent of its net PAT for the period from the listing date to 31 December 2025 and for FY2026. Babu highlighted that the firm plans to grow further, offering a broader range of products as a one-stop digital solution for businesses. 'In each of our four markets, the market size of SME-focused cloud-based HR and accounting software are estimated to see a CAGR of between 7.2 per cent and 11.9 per cent over the years 2025 to 2029, which bodes well for our group,' he added.
Straits Times
22-06-2025
- Business
- Straits Times
Singapore software services firm Info-Tech Systems gears up for IPO on SGX mainboard
Info-Tech Systems is planning to raise funds for further product development and expansion into new markets. ST PHOTO: BRIAN TEO SINGAPORE – Local firm Info-Tech Systems has lodged its preliminary prospectus with the Monetary Authority of Singapore (MAS) for a listing on the mainboard of the Singapore Exchange (SGX), making it the second company to potentially list here in 2025. The software services provider is planning to raise funds for further product development and expansion into new markets like Hong Kong and India. It also plans to hire more engineers and other executives. Its cloud-based human resources and accounting software and digital payroll solutions are now used by over 23,000 organisations and more than 850,000 active users across Singapore, Malaysia, Hong Kong, and India, according to the firm's prospectus. Info-Tech Systems' initial public offering (IPO) will comprise new shares issued by the company, alongside an offering of vendor shares by its executive chairman Peter Lee Kim Heng and executive director Yeoh Sin Yee. Mr Lee, who co-founded the company, will remain a key shareholder post-listing. Vendor shares allow existing shareholders to cash out part of their holdings. While pricing and final share allocation details have not been disclosed, the IPO has secured several cornerstone investors who have committed to buying 41.1 million shares. They include institutional names such as Avanda Investment Management, Dymon Asia, Lion Global Investors, Nikko Asset Management, and Maybank Asset Management. For the year ended Dec 31, 2024, Info-Tech cited top-line growth of around 15 per cent year on year to $43.7 million, thanks to a jump in revenue of its cloud accounting software. Net profit for the period grew 17.6 per cent, to $12.3 million. Info-Tech's business growth depends on its ability to attract new customers, while retaining and expanding recurring subscription revenues from its existing client base. In 2024, the company reported a high customer retention rate of 91 per cent for the year, and noted that the majority of its clients are small and medium-sized enterprises (SMEs). It added that SMEs tend to be more agile in adopting new technologies, and are expected to drive continued demand for cloud-based workforce management, compliance, and payroll automation software. If its IPO is successful, Info-Tech could be the second company to list on the SGX and the first to do so on the mainboard in 2025. In April, auto-group Vin's Holdings went public on Catalist, while another company, candy maker YLF Group Marketing, halted its plans to list less than three weeks after it lodged its prospectus. Join ST's Telegram channel and get the latest breaking news delivered to you.
