Toku shares soar 14% above IPO price in SGX debut
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Toku offers AI-based cloud communications services to businesses, providing tools such as voice and messaging systems.
PHOTO: TOKU
Shikhar Gupta
SINGAPORE - Shares of artificial intelligence-powered customer experience platform Toku, Singapore’s second listing of 2026, surged in the company’s trading debut on the Catalist board on Jan 22.
The counter opened at 26 cents per share, 4 per cent above its initial public offering price of 25 cents per share, and closed 14 per cent higher at 28.5 cents. Some 30.7 million shares changed hands.
Toku offered 63 million placement shares and two million public offer shares, which gave it a market capitalisation of around $142.6 million.
The company raised total gross proceeds of about $16.3 million, which it said on Jan 14 will be used for expansion of its platform, tech development, and potential mergers and acquisitions as well as general working capital.
Toku offers AI-based cloud communications services to businesses, with a focus on Asia-Pacific, providing tools such as voice and messaging systems to support customer engagement.
The company, which was founded and is headquartered in Singapore, said it will also increase its depth in the markets it currently operates in and expand into new ones.
Its revenue has grown year on year, from US$21.6 million (S$27.8 million) in financial year 2022 to US$28.8 million in financial year 2023 and US$31.8 million in financial year 2024. Still, the growth was accompanied by widening losses, and Toku plans to introduce efficiency gains to bring costs down. THE BUSINESS TIMES
