29 Dec 2014
Initial Public Offering of iFAST Corporation Ltd
Rajah & Tann Singapore LLP acted as the legal adviser to DBS Bank Ltd and DMG & Partners Securities Pte Ltd, the joint issue managers, bookrunners and underwriters as to Singapore law in respect of the initial public offering and listing of 32,800,000 units in iFAST Corporation Ltd (the “Company”) on the Main Board of the SGX-ST. The market capitalisation of the Company at listing (based on the offering price) was S$243.4million. The Company has also granted an over-allotment option to DBS Bank Ltd. to purchase up to 3,280,000 additional shares.
Headquartered in Singapore, iFAST is an Internet-based investment products distribution and administration platform providing a comprehensive range of services including the execution of investment transactions, investment administration, research and investment trainings, software tools, IT Services and backroom functions to more than 150 financial advisory firms and financial institutions and more than 5,000 financial advisers’ representatives.
Partner Howard Cheam led the Capital Markets team from R&T Singapore, assisted by partner Teo Yi Jing and lawyers Lim Ee Nian and Esther Cher.
Rajah & Tann’s associate firm in Malaysia, Christopher & Lee Ong advised on the Malaysian Law aspects of the transaction.