IFS Capital approved for IPO | IFS Capital (Thailand)
11 Mar 2010

IFS Capital approved for IPO

IFS Capital has been approved by the SEC to make an initial public offering

IFS Capital approved for IPO

IFS Capital has been approved by the SEC to make an initial public offering, which is tentatively planned to be in the middle of the year. It has gained a strong foothold in the market, due to its financial strength, advanced technology, speed and flexibility of its highly experienced staff.

Mr. Tan Ley Yen, the Chief Executive Officer of IFS Capital (Thailand) PCL, revealed that IFS has obtained the approval of SEC for its proposed IPO of 120 million shares at the par value of THB 1. Funds raised will be used for the expansion of its factoring and other related financing business. Clients of IFS are mostly the local small- and medium-sized enterprises (SMEs) as well as some large enterprises, who make use of factoring as a form of working capital for their businesses.

“As for the IPO and listing date, it will depend on the local and international market and political situations but the offering should be by the middle of this year.” he said.

Mr. Tan added that factoring can be used as a competitive tool to help businesses improve their cash flow and to increase their sales turnover. It is available to both domestic and export business and can be used by all kinds of business whether they are traders, service providers or manufacturers , such as those in electronics, packaging, auto parts, plastic products, food products; or service providers like security guards, cleaning, advertising , outsource manpower supply, transportation etc.

Besides financial strength, IFS has many experienced staff and this enables the company to provide fast, efficient and flexible services to its clients. Application forms could be processed and the facility granted within 7 to 10 business days. Upon presentation of the relevant invoices and other commercial documents, the client could receive cash advancement of up to 90% of the invoice value within the next business day.

In addition, IFS has a well developed e-factoring system which allows its clients to obtain fast services and to monitor their payment or account status on a real-time basis. Such services and convenience are currently available only to the clients of IFS. “This combination of financial strength, experienced staff and advanced technology are the competitive advantages of IFS, and help to make IFS a leading player in the factoring business in Thailand’ said Mr. Tan.

IFS Capital is a subsidiary of an established financial services group based in Singapore. Its factoring services in this region are available in countries such as Singapore, Malaysia, Indonesia and Thailand. IFS Capital Limited of Singapore has been listed on the Singapore Exchange since 1993.