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Info-Tech Systems Ltd ( (SG:ITS) ) has shared an announcement.
Info-Tech Systems’ executive chairman, Lim Kim Heng Peter, has sold 24,338,800 existing ordinary shares in a block trade to long-only institutional investors, including fund managers under the Equity Market Development Programme. Oversea-Chinese Banking Corporation Limited acted as placement agent, with the transaction aimed at diversifying and institutionalising the company’s shareholder base.
The sale is expected to broaden minority shareholder representation and improve trading liquidity and free float of the company’s shares, without diluting existing shareholders as no new shares were issued. Lim has committed not to transfer any further shares for 365 days, retaining a 19.2% stake, signaling ongoing confidence in the group’s business, while the board notes that no other directors or controlling shareholders have an interest in the transaction beyond their current holdings.
More about Info-Tech Systems Ltd
Info-Tech Systems Ltd., incorporated in Singapore, operates in the technology sector, providing software and related solutions, with a focus on building a broad shareholder base to support its growth on the public markets. The Group’s strategy underscores engagement with institutional investors to enhance market visibility and share liquidity over time.
Average Trading Volume: 1,180,746
Technical Sentiment Signal: Strong Buy
Current Market Cap: S$268.3M
Learn more about ITS stock on TipRanks’ Stock Analysis page.
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