Credit Bureau Asia, is set to be yet another mainboard IPO following the listing of Nanofilm Technologies International last month.
The company, which describes itself as a leading player in the credit and risk information solutions market in Southeast Asia, has lodged its preliminary prospectus.
“We hope investors will appreciate our unique, robust and highly cash generative business model in good and unprecedented times,” says Kevin Koo, executive chairman and CEO of CBA.
“We are a home-grown Singapore company, and our IPO will help to strengthen our position in the region and beyond,” he adds.
CBA provides credit and risk information solutions to an extensive client base of banks, financial institutions, multinational corporations, telecommunication companies, government bodies and public agencies, local enterprises and individuals.
It operates in Singapore, Malaysia, Cambodia and Myanmar.
See: Airbnb files for IPO, confirms the damage it suffered during Covid-19
CBA has two core segments, the financial institution data business and the non-financial institution data business, covering both consumer and commercial credit risk information.
For the non-financial institution data business, CBA has more than 6,000 customers (including MNCs and SMEs) and access to a database covering more than 330 million business records globally.
The products are sold via its subsidiaries, Dun & Bradstreet (Singapore) and Dun & Bradstreet (D&B) Malaysia, where local customers can purchase credit and risk information on business entities globally and businesses elsewhere can likewise purchase similar information on local companies.
CBA believes it has strong growth prospects with the impending issuance of digital banking licences and the upcoming commencement of the Credit Bureau Act in Singapore.
For the year ended Dec 31 2019, CBA recorded $40.6 million in revenue up 8.6% over FY2018. Earnings for FY2019 was $7.02 million, up 28.6% from $5.5 million in FY2018. It reported EBITDA of $23.3 million for FY2019.
For the six months ended June 30, its earnings grew 12.2% y-o-y to $3.72 million and its EBITDA for the same period was $13 million.
This issue is managed by CIMB Bank, Singapore Branch and CGS-CIMB Securities (Singapore) is the underwriter and placement agent.