On June 20, Info-Tech Systems, which provides software used for human resource management, lodged its draft prospectus. Book building for the placement tranche has been going on for weeks. Based on data circulated by the stock broking community, the issue aims to raise around $60 million, including an overallotment portion.
Last week, The Edge Singapore’s cover story asked: “Where are the IPOs?” (Issue 1194, June 23). This is a particularly acute trend given that there has been just one listing this year — that of car dealer Vin’s Holdings. In comparison, around 20 companies are planning to or have already delisted. The various industry professionals The Edge Singapore spoke to, ranging from initial public offering (IPO) managers to officials from the stock exchange, already explained how they are all working on new issues.
Since the story was published, two companies, Info-Tech Systems and Lum Chang Creations, have lodged their preliminary prospectus, joining the growing line of potential new issues floated over the past few months.
