PayGroup Limited, a trusted provider of Multi-Country Payroll and Human Resource Outsourcing Solutions, is pleased to announce the opening of its Initial Public Offering (IPO) to raise between $5.5 million and $8.5 million.
PayGroup is the holding company for PayAsia, providing world class Business Process Outsourcing (BPO) and Cloud based Human Capital Management (HCM) software for medium to large multinational companies with employees spread across multiple countries.
Through the IPO, PayGroup will issue between 11 million and 15 million shares at $0.50 per share, with an expected market capitalization of ~$22.8-25.8 million upon listing.
PayGroup Managing Director, Mark Samlal said that PayGroup is an established, proven and profitable business which provides investors with the opportunity to benefit from continued growth of multi-nationals entering Asia while leveraging the growing demand for human capital business processing outsourcing, both in the traditional service setting and the low-touch / self-service model for software-based solutions. Many companies and service providers under-estimate the complexity, time and cost of performing these crucial business functions across multiple countries in Asia. PayGroup’s brings the in-market knowledge – they have grown up in Asia – and that makes a big difference, it’s why they have succeeded.
PayGroup has several channels for revenue growth, including marketing additional products to current clients, expanding the client base, partnership and alliance expansion, conversion of third party technologies to the Group’s cloud based platforms, treasury functions and near-term potential corporate payroll debit cards.