iWOW Technology Limited ("iWOW" or the "Company") is placing out 26m shares at 25 Singapore cents each for a listing on Catalist. The offer will close on 12 April at noon. The market cap based on the IPO price is $62.6m
There is no public offer for this issuance. As usual, I will not cover in detail if there is no public tranche as I want to incentivise companies to allocate at least a small portion to retail investors.
The Sponsor and Issuer Manager is Evolve Capital and the underwrite and placement agent is Futu Singapore. Both are relatively new to the IPO scene here but it is good to see more players active in the marketplace.
Background
The technology company was established in 1999, specialising in integrated wireless IoT solutions as a service. iWOW has two business segments as presented below. One of their business is to "monitor ex-offenders and accused persons" while they are out
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