RHTLaw Taylor Wessing LLP Successfully Assists Xyec Holdings Co. Ltd to become the First Japanese Company to List on SGX Catalist

SINGAPORE, Oct. 22, 2013 /PRNewswire/ -- RHTLaw Taylor Wessing LLP successfully assisted Xyec, an engineering and information technology services group, to become the first Japanese company to list on the SGX Catalist. Xyec Holdings, which specialises in developing software for Japanese manufacturers, raised gross proceeds of $6.5 million through its initial public offering. The offer of 25 million new shares at 26 cents each were fully placed out to investors.

Xyec plans to expand its engineering services and IT services businesses in South East Asia through acquisitions and is looking into setting up a Singapore office for its R&D and regional sales functions. RHTLaw Taylor Wessing LLP's lead partner for this project, Ms. Ch'ng Li-Ling, said, "We wish Xyec's management the very best as the Company embarks on its next stage of growth as a listed company. We, at RHTLaw Taylor Wessing, will continue to serve Xyec to the best of our abilities to achieve the Group's plans in Singapore and in Southeast Asia."

Ms. Ch'ng added, "We are proud and privileged to have worked with the Company and the other professional teams on this historic IPO. This listing is noteworthy. For this first primary listing of a Japanese company in Singapore, we had to work with the Company and the professional teams to address issues that none of us had encountered before in other SGX listings. We hope Xyec's successful IPO paves the way for more Japanese companies to consider raising capital in the Singapore market."