Credit Bureau Asia debuts with strong trading on SGX Mainboard

03 December 2020
  • Opening and closing prices of S$1.15 and S$1.07 per share respectively, above the offering price of S$0.93 per share

  • A total of approximately 9.4 million shares were traded

Singapore, 03 December 2020:

Credit Bureau Asia Limited (“CBA”, “ 亚洲征信有限公司”, the “Company” and together with its subsidiaries, the “Group”), a leading player in the credit and risk information solutions market in Southeast Asia[1], commenced trading today on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”), under the stock code “TCU”.

CBA IPO First Day Trading at SGX 1024x728 - Credit Bureau Asia debuts with strong trading on SGX Mainboard - about 9.4 million shares traded

From left to right: Mr Victor Lee, Country Head, Singapore and Chief Executive Officer, CIMB Bank Singapore; Mr Mohamed Nasser Ismail, Global Head of Equity Capital Markets, Global Sales & Origination, Singapore Exchange; Mr Kevin Koo, Executive Chairman and Chief Executive Officer, Credit Bureau Asia Limited and Mr William Lim, Executive Director, Credit Bureau Asia Limited

CBA made a strong debut with an opening price of S$1.15 and with approximately 9.4 million shares traded today, CBA’s share price closed at S$1.07, approximately 15.0% above the offering price of S$0.93 per share.

Commenting on the first day trading, Mr Kevin Koo (“顾强”), founder and Executive Chairman of CBA, remarked: “We are off to a good start as our first day of trading saw a 15% increase in our share price. This share price performance is a reflection of the market’s appreciation of our company and its resilient cash-generative business model. As we embark on our journey as a listed company, we aim to create greater shareholder value for our shareholders.”

CIMB Bank Berhad, Singapore Branch is the issue manager for the initial public offering and CGS-CIMB Securities (Singapore) Pte. Ltd. is the underwriter and placement agent.

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*To read the press release offline, download the PDF here.

About Credit Bureau Asia             (www.creditbureauasia.com)

CBA is a leading player in the credit and risk information solutions market in Southeast Asia, providing 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 across Singapore, Malaysia, Cambodia and Myanmar. CBA’s business has two core segments, the FI Data Business and the NonFI Data Business, covering both consumer and commercial credit risk information.

The Group, together with its joint ventures, is currently the dominant market leader in Singapore’s FI Data Business and the sole market player in Cambodia’s and Myanmar’s FI Data Business[2]. Depending on the territory involved, these credit bureaus operate to provide their subscribing members, mainly banks and financial institutions, with access to credit information on consumers or business entities, all of which are generated from up-to-date credit information contributed by subscribing members. As at 30 June 2020, the Group has close to 200 financial institution members across Singapore and Cambodia which include banks, microfinance institutions, leasing companies and rural credit operators.

For its Non-FI Data Business, the Group has more than 6,000 customers (including multinational corporations and small and medium-sized enterprises) and access to a database covering more than 330 million business records globally as at 6 November 2020. CBA’s Non-FI Data Business operates in Singapore and Malaysia, where customers can access a wide range of business information and risk management services, sales and marketing solutions, commercial insights and other services, using data sourced from a variety of publicly accessible registries and Dun & Bradstreet’s extensive international network as well as information contributed by businesses which subscribe to CBA’s payment bureau services..

Sources:

[1][2] Independent Market Research Report on the Credit and Risk Information Solutions Market (Singapore,
Malaysia, Cambodia, Myanmar) by Frost and Sullivan dated July 2020

IMPORTANT NOTICE

This news release has not been reviewed by the Monetary Authority of Singapore.

This news release does not constitute an offer, invitation to purchase or subscribe for or solicitation of securities in Singapore or any other jurisdiction nor should it or any part of it form the basis of, or be relied upon in any connection with, any contract or commitment whatsoever. The information in this news release is qualified in its entirety by, and is subject to, the more detailed information set out in the final prospectus registered by the Monetary Authority of Singapore on 26 November 2020. The information presented in this news release is subject to change. Certain of the information in this news release is historical information. The past performance of the Company is not indicative of its future performance. This news release includes forward-looking statements provided with respect to the anticipated financial position, business strategies, future plans and prospects of the Group. These forward-looking statements are only predictions, and there can be no assurance that such forward- looking statements will be realised. The Company’s actual results may vary from the anticipated results and such variation may be material. No representations or warranties are made as to the accuracy or reasonableness of these forward-looking statements.

This news release is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This news release and the information contained herein is not an offer or solicitation to purchase, subscribe or sell securities for sale in the United States. The shares of the Company have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“Securities Act”) or the securities laws of any state or other jurisdiction of the United States and may not be offered or sold within the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements under the Securities Act and applicable state or local securities laws. Securities may not be offered or sold in the United States absent registration pursuant to the Securities Act, or an exemption from registration. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the issuer and management, as well as financial statements. The Group does not intend to make any public offering of securities in the United States. The Offering Shares are being offered and sold only outside the United States in offshore transactions as defined in, and in reliance on, Regulation S under the Securities Act or pursuant to another exemption. No directed selling efforts (within the meaning of Regulation S under the Securities Act) will be made with respect to the Offering Shares.

This news release is not to be distributed or circulated outside of Singapore. Any failure to comply with this restriction may constitute a violation of United States securities laws or the laws of any other jurisdiction.

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