TraceTogether token maker iWOW Technology to raise S$6.5m in Catalist listing

iWOW Technology, a local technology provider that specialises in Internet of Things (IoT) solutions, launched its initial public offering (IPO) on Wednesday (Apr 6) for a Catalist listing on the Singapore Exchange (SGX).

The company is looking to sell 26 million shares at S$0.25 apiece, to raise gross proceeds of about S$6.5 million. Net proceeds are expected to come in at about S$5.2 million.

This placement represents about 10.4 per cent of iWow's enlarged share capital of 250.4 million shares. The company will have a theoretical market capitalisation of S$62.6 million after the placement, and a price-to-earnings ratio of 16.9 times.