General Announcement::News release: SGX Welcomes Procurri to Mainboard

Issuer & Securities

Issuer/ Manager
SINGAPORE EXCHANGE LIMITED
Securities
SINGAPORE EXCHANGE LIMITED - SG1J26887955 - S68
Stapled Security
No

Announcement Details

Announcement Title
General Announcement
Date &Time of Broadcast
20-Jul-2016 10:05:26
Status
New
Announcement Sub Title
News release: SGX Welcomes Procurri to Mainboard
Announcement Reference
SG160720OTHRNPJE
Submitted By (Co./ Ind. Name)
Ho Lily
Designation
AVP, Marketing & Communications
Description (Please provide a detailed description of the event in the box below)
Singapore Exchange (SGX) today welcomed Procurri Corporation Limited ( Procurri ) to its Mainboard under the stock code "BVQ".

Procurri, a leading global independent provider of Data Centre Equipment and Lifecycle Services, is a portfolio company of Catalist-listed DeClout Limited.

Incorporated in 2013, Procurri's business covers over 80 countries worldwide, across hardware resale, supply chain management, independent maintenance services, hardware-as-a-service and IT asset disposition. It has three regional hubs in Singapore, the United States and the United Kingdom.

Sean Murphy, Procurri's Global Chief Executive Officer, said, "Procurri has established itself as one of the leading global independent providers of Data Centre Equipment and Lifecycle Services within a short span of time. The fast-growing cloud services and data centre industry continues to bring exciting growth opportunities for Procurri, and our listing on the Mainboard will help to raise our corporate profile and tap into growth prospects globally, and more specifically, in Asia."

Simon Lim, Head of Equity Capital Market (Sectors), SGX, said, "We are pleased to welcome Procurri, our first technology IPO on the Mainboard this year. This is also the first time a company listed on Catalist is spinning off a portfolio company to list on the Mainboard. We are encouraged by Procurri and DeClout's appreciation of the distinct advantages Mainboard and Catalist bring. We look forward to partnering Procurri as it continues to scale its business globally."

Vesmond Wong, Chairman and Group Chief Executive Officer of DeClout Limited, added, "Procurri's IPO marks DeClout's first successful spin-off within a short span of three years. This is in line with our commitment to our shareholders, and is certainly a clear testament to DeClout's ability to invest, incubate, scale and achieve successful harvest within our portfolio. We are also proud to create history by being the first Catalist-listed company to spin-off a portfolio company on the Mainboard. We look forward to Procurri continuing its strong growth post-listing and its exciting prospects ahead."

The listing of Procurri brings the total number of SGX-listed Technology companies to 80, with a combined market capitalisation of S$84 billion.

Procurri opened at $0.54 today.

-End-

Attachments

20160720_SGX_welcomes_Procurri_to_Mainboard.pdf
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