043007: Intelligent Wave Philippines plans to sell shares in IPO

By Honey Madrilejos-Reyes

Reporter

A subsidiary of listed information technology (IT) solutions provider DFNN has disclosed plans of going public through the sale of shares in the Philippine stock market. In a disclosure to the exchange Friday, DFNN said Intelligent Wave Philippines Inc. (IWPI) will commission BDO Capital & Investment Corp. as issue manager and lead underwriter for its proposed initial public offering (IPO). The proceeds that would be raised by IWPI from the IPO would be used to expand its services to fully tap the large Japanese business process outsourcing (BPO) business opportunities that would be created under the Philippines-Japan Free Trade Agreement. The company did not say its target timetable for the IPO and the offer size. At present, IWPI is engaged in the business of providing IT business solutions to domestic and Japanese banks and other financial institutions on an outsourced basis. IWPI is one of the leading IT firms that focuses on On-Line Transaction Processing (OLTP) and other business applications. It has evolved from being a distributor of the ON/2 ATM System in 1991 to a competent software developer with its own core products such as ATMPack (ATM system), credit-card pack (credit-card authorization) and switch pack (high-speed transaction switching system for Visa, Mastercard, JCB and Amexco), and Brokerage Pack (On-line Stock Trading). The company has designed and developed turnkey solutions to satisfy the unique requirements of customers engaged in automated teller machine (ATM) services, credit card business, on-line stock trading, Web-based remittance services and manufacturing business. Likewise, it has the expertise in designing, developing, implementing and supporting various business applications that leverage the best-of-breed technologies.

 

http://www.businessmirror.com.ph/04302007/companies03.html