Singapore-based customer experience (CX) technology firm Toku Ltd began trading on the Catalist board of Singapore Exchange on Thursday after completing an initial public offering that raised S$16.25 million ($12.1 million), the company said.
Toku’s shares opened at S$0.260, hit an intraday high of S$0.305 and closed at S$0.285. The stock started trading at 9:00 a.m. Singapore time on a “ready” basis under the ticker symbol TKU, it said.
The IPO comprised 65 million invitation shares priced at S$0.25 each, including 2 million public offer shares and 63 million placement shares.
The offering implies a post-IPO market capitalisation of about S$142.6 million based on the company’s enlarged share capital, according to the statement.
Founder and Chief Executive Thomas Laboulle said the listing was a “significant step” in Toku’s development as an enterprise software company, as it aims to scale its platform amid rising customer expectations and tightening regulatory requirements across markets.
“As a public company, we are sharpening our focus on execution, governance and long-term value creation,” Laboulle said, adding that Toku will continue to invest in end-to-end innovation across its technology and solution stack to deliver compliant offerings to customers globally.
Non-independent non-executive chairman Lim Hwee Hua said the listing reinforced Toku’s commitment to transparency, sound governance and long-term value.
PrimePartners’ CEO Mark Liew said investor interest reflected confidence in Toku’s business and strategy, while CGS International Securities’ investment banking head Jason Saw described the company as a scalable, “AI-centric” growth story.
Headquartered in Singapore, Toku provides a cloud-native platform that helps enterprises and public-sector organisations manage customer interactions across voice, chat, email and digital channels within a single integrated environment.
The platform combines communications infrastructure with AI features such as transcription, summarisation and conversation analytics, and can be deployed on commercial cloud, private data centres or hybrid environments to meet regulatory and operational needs.
Toku said proceeds from the IPO will support continued investment in its technology platform, expansion of its partner ecosystem, geographic growth and general corporate purposes.
Business News Asia
