Latest news with #Info-TechSystems'
Business Times
2 days 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.
Straits Times
2 days ago
- Business
- Straits Times
Singapore software firm Info-Tech Systems debuts 9.2% above IPO price at $0.95
Sign up now: Get ST's newsletters delivered to your inbox 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. Top stories Swipe. Select. Stay informed. Singapore Seller's stamp duty rates for private homes raised; holding period increased from 3 years to 4 Asia Japan urges evacuation of small island as 1,000 quakes hit region Singapore Multiple charges for man accused of damaging PAP campaign materials on GE2025 Polling Day Singapore Jail for man who recruited 2 Japanese women for prostitution at MBS Asia Indonesian rescuers widen search for missing after ferry sinks World Trump eyes simple tariff rates over complex talks, says letters will start going out on July 4 World Trump's sweeping tax-cut and spending Bill wins congressional approval Business More Singapore residents met CPF Required Retirement Sum when they turned 55 in 2024 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.
