Audience Analytics has launched its initial public offering (IPO) on Sept 14, in conjunction with its plans to list on the Catalist board of the Singapore Exchange Securities Trading (SGX-ST).

The company plans to place 18.2 million new shares and 7.8 million vendor shares at 30 cents each, representing 15.5% of the enlarged share capital of 168.2 million shares. On completion of its listing on the Catalist board, Audience Analytics will have a market capitalisation of approximately $50.5 million.

Audience Analytics is the holding company to four subsidiaries, including business-to-business (B2B) publisher Business Media International.  The group currently has three core business segments - business media, exhibitions and business impact assessment and recognition.

Through its business media segment, the group publishes digital and print titles including SME Magazine, HR Asia and Capital Asia. Under its business impact assessment and recognition segment, the group organises business award events including the SME100 Awards, the Golden Bull Awards, the HR Asia Awards and the CXP Awards. Under its exhibitions segment, the group organises large-scale exhibitions.

See also: Audience Analytics seeks Catalist listing to fund expansion

“We hope to use the funds raised through this IPO to enhance our business analytics capabilities including incorporating AI technology and predictive analytics into our business intelligence and growth analytics segment, further expand our geographical footprint and digitalise our existing business operations to help us capture greater opportunities,” says chairman and managing director William Ng.

Gross proceeds of $5.46 million are expected to be raised from the issue of the new shares, of which $1.34 million will be used to cover listing and related expenses, thus resulting in net proceeds of $4.12 million.

$500,000 of the net proceeds is earmarked towards Audience Analytics’ new business segment focusing on business intelligence and growth analytics. 

In 2018, the group developed the proprietary Total Engagement Assessment Model (TEAM), an analytics tool catered towards human resource professionals to better understand and optimise their workforce. The group intends to launch TEAM as a Software-as-a-Service (SaaS) product in 3Q2021. 

To grow its capabilities, the group intends to reinforce its technical team and build out big data skills. It also plans to develop AI and predictive analytics capabilities either through collaboration with third party technology partners or building it in-house. 

Of the remaining net proceeds from the IPO, $500,000 will be channeled towards the digitisation of Audience Analytics' existing business operations, while an additional $500,000 will be used for expansion into new geographic markets, industry verticals and specialisations. The remaining $2.62 million will be used for general working capital purposes.

Looking ahead, the group states that while it does not have a fixed dividend policy, it intends to distribute 50% of its earnings as dividends with respect to its FY2021 and FY2022 ending December.

Audience Analytics' IPO will close on Sept 28 at 12pm, with trading expected to commence on Sept 30. ZICO Capital is Audience Analytics’ sponsor and issue manager, while Stirling Coleman Capital is the placement agent.

Photo: Audience Analytics