Temasek increases Intapp stake in IPO

U.S. one-dollar currency notes; taken September 2018.U.S. one dollar bills.

Singapore state-owned investment company Temasek Holdings increased its stake in Intapp, buying an additional 1.92 million shares at the US$26 initial public offering (IPO) price, according to a filing to U.S. securities regulators Tuesday.

The IPO had priced at US$26, suggesting a valuation of US$525.54 million for the investment company’s holding of 20.21 million shares prior to acquiring the additional shares.

Before acquiring the additional shares, Temasek’s stake in the company post-listing was 34.33 percent, according to a filing from Intapp. The shares are held by Anderson Investments, a wholly owned subsidiary of Thomson Capital, which is a wholly owned subsidiary of Tembusu Capital, which in turn is a wholly owned subsidiary of Temasek.

Shares of Intapp were trading at US$28.70 at 11:11 a.m. ET.

Intapp provides cloud-based software for managing regulatory requirements in financial, legal, accounting and other services industries.