Credit Bureau Asia has opened on the Mainboard on the Singapore Exchange (SGX) at $1.15 under the stock code TCU.
The news comes after the group reported that its initial public offering (IPO) was over 60 times subscribed on Dec 2.
Credit Bureau Asia provides credit and risk information solutions to clients in Singapore, Malaysia, Cambodia and Myanmar.
The group’s two core business segments include the financial institution data business that provides credit reporting services, data analytics customer and portfolio monitoring services and customised solution and products, as well as the non-financial institution data business offering risk management services, sales and marketing solutions, receivables management services and business education services.
“Today is an important milestone in our corporate history and a fulfilment of our dream of becoming a listed company. It also marks the start of an exciting journey for us to achieve our growth plans in Singapore and the region, and to deliver sustainable long term returns for our shareholders,” says Kevin Koo, executive chairman and CEO of Credit Bureau Asia.
Mohamed Nasser Ismail, SGX’s global head of equity capital markets, adds, “We are pleased to welcome Credit Bureau Asia, Southeast Asia’s leading credit and risk information solutions provider. The listing of a home-grown Singapore company is always an especially proud moment for us. Data is increasingly being used to manage risks and in decision-making; Credit Bureau Asia can count on the SGX platform as it capitalises these growth opportunities.”
With a market capitalisation of about $215 million, Credit Bureau Asia’s listing brings SGX’s consumer cluster to a total of 137 listings with a combined market capitalisation of $62 billion.
As at 12.21pm, shares in Credit Bureau Asia are trading at $1.14.