Info-Tech sees strong demand in IPO

Its shares are set to begin trading on the SGX Mainboard at 9 a.m. on 4 July.

Human resource management software firm Info-Tech saw strong interest in its initial public offering (IPO), with total demand for its 24.86 million shares reaching around 7.3 times the number on offer.

The 19.86 million shares set aside for international investors were about 5.5 times oversubscribed.

As at the close of the offering at 12 p.m. on 2 July, about 72 million valid applications were received for the 5 million shares offered to the Singapore public, which was approximately 14.4 times subscribed.

In connection with the offering, Peter Lee, chairman and co-founder of Info-Tech, has granted the joint bookrunners and underwriters an overallotment option exercisable by CGS International Securities Singapore Pte. Ltd. to purchase up to an aggregate of 4,900,000 additional shares, representing approximately 19.7% of the total number of offering shares.

Separately, nine institutional investors, including Asdew Acquisitions Pte Ltd, Avanda Investment Management Pte Ltd, Dymon Asia Multi-Strategy Investment Master Fund, GinkoAGT Global Growth Fund, Lion Global Investors Limited, Maybank Asset Management Singapore Pte. Ltd., Nikko Asset Management Asia Limited, Qilin Wealth Fund Pte. Ltd. and Splendid Asia Macro Fund, have purchased an aggregate of $35.8m.

The total deal size, including the offering and the issuance and sale of the Cornerstone Shares, will raise gross proceeds of approximately $61.7m.

The listing and trading of Info-Tech’s shares on the Mainboard of SGX-ST is expected to commence at 9 a.m. on 4 July 2025, under the stock code “ITS.”