Info-Tech to offer 24.86 million shares in SGX IPO

The company expects to raise $23.4m in net proceeds.

Info-Tech Systems, a human resource management software firm, plans to offer 24.86 million shares at $0.87 each in its upcoming Initial Public Offering.

Of the total shares, 19.86 million will be offered to selected investors outside the United States, whilst the remaining 5 million shares will go to the public offer in Singapore.

Info-Tech's 258-million post-offering shares will give the company a market capitalisation of around $224.5m.

The company expects to raise $23.4m in net proceeds to be used for the research and development of new product lines and promotional activities.

Trading is expected to commence on a ‘ready’ basis at 9 a.m. on 4 July and will close at noon on 2 July.

Oversea-Chinese Banking Corporation (OCBC) is the sole issue manager and global coordinator.

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