Tricor: Last year's IPO market share increased to 50%, and there was a significant increase in large-scale new investors hoping to enter ASEAN
[Ming Pao News] The IPO market was particularly prosperous last year, with the Hong Kong Stock Exchange ranking second in the world for fundraising, and Hong Kong's share registrar and financial service provider Tricor also became one of the winners. Tricor's initial public offering (IPO) business is catching up. Group CEO Yang Binguan said in an interview with this newspaper that based on the number of IPOs handled, the group's market share increased to nearly 50% last year. Compared with the past, it focused on small and medium-sized IPOs, last year There has been a noticeable increase in large IPOs for services. Yang Binguan pointed out that the epidemic has not hindered the development of the group, and the annual profit has continued to record double-digit growth. Now it is more interested in entering the Southeast Asian market. Tricor has now entered its fourth year since it was transferred to private equity firm Permira. When asked whether the group had plans to go public, he did not disclose it.
Ming Pao reporter Ma Difan
Yang Binguan pointed out that the group continues to have a strong IPO business pipeline this year. Among the 120 companies that have submitted IPOs so far this year, 51% are Tricor customers. According to Tricor information, among the new shares handled by the group last year, the average number of subscribers for each new share was 25,000. He said that the group's IPO business advantages include talent and technology, and it can still provide a series of services after listing. For example, it launched its own hybrid shareholders' meeting platform last year. He continued that the group’s acquisition plans have not stalled due to the epidemic, and it will still be interested in technologies involving corporate services in the future.
Participate in the paperless project of the Hong Kong Stock Exchange
The Hong Kong Stock Exchange has been promoting paperless IPOs since last year and is currently developing an online service platform, FINI, which will simplify the IPO settlement cycle to the shortest "T+1". Yang Binguan said that Tricor is participating in discussions with the Hong Kong Stock Exchange on several projects, including FINI, paperless IPOs, and the long-term paperless securities market (USM). Tricor is ready to support paperless IPOs. USM is expected to be achieved in three years. When asked whether the plan would cause inconvenience to older investors, he also admitted that Hong Kong’s retail investor base is relatively broad. He believed that the authorities would consider the opinions of all stakeholders, and Tricor would balance new market regulations with serving investors. Find balance.
Expansion of tax technology department has been recruiting staff since last year
The group's business is "a hundred feet with many claws", and its trust and compliance businesses have mushroomed rapidly and now contribute about 10% of its revenue (see picture). Yang Binguan pointed out that the group is still expanding at a rapid pace, and some of the departments that are expanding in Hong Kong include taxation, technology, etc., and have been recruiting staff since last year. He said that Tricor's tax business will focus on medium-sized enterprises, and he believes that the group can better understand customer needs than traditional accounting firms. On the other hand, Tricor also looks at the ASEAN market and hopes to enter the local market to provide corporate services. Yang Binguan said that Southeast Asia is an important growth market, and coupled with the RCEP agreement signed by ASEAN countries and major countries such as China earlier, he believes that mainland companies will gradually enter the market, and Tricor hopes to capture service opportunities.
