AI-powered Pre IPO

Toku Registers Offer Document for SGX Catalist IPO, Eyes January 22 Trading Debut

• ByStartupStory     |    January 15, 2026

Singapore-based AI-powered customer experience platform Toku Ltd. has registered its Offer Document with the Singapore Exchange (SGX), launching its initial public offering on the Catalist board with trading expected to commence on January 22, 2026 – positioning it as SGX’s first listing of the year.

The IPO comprises 65 million invitation shares priced at S$0.25 each, including 2 million Public Offer Shares and 63 million Placement Shares, aiming to raise approximately S$16.25 million (net proceeds ~S$13.7 million) through PrimePartners Corporate Finance and CGS International Securities.

AI CX Platform for Fragmented APAC Markets

Founded in 2017 by Thomas Laboulle, Toku builds end-to-end customer engagement solutions tailored for complex, multilingual markets across 34 countries in Asia Pacific, Latin America, Middle East, and North Africa. Unlike global incumbents pushing standardized solutions, Toku owns its full technology stack – from carrier-grade connectivity to AI-driven applications.

Core capabilities include:

• Multilingual transcription and summarization with 95%+ accuracy across APAC languages

• Sentiment analysis and conversation analytics for enterprise-grade insights

• Governed virtual agents integrating with CRM systems and customer data

• Compliance-first delivery across commercial cloud, private data centers, hybrid environments

Clients span financial services, healthcare, shared economy services, and government agencies seeking localized CX at global scale.

IPO Proceeds Fuel Global Expansion

Toku allocates net proceeds strategically:

• AI platform acceleration: Proprietary tech development and R&D investments

• Geographic expansion: Middle East, Europe, North America market entry

• Partner ecosystem growth: Channel partnerships and strategic acquisitions

• Talent acquisition: Engineering and go-to-market teams

• Financial strengthening: Working capital reserve and shareholder loan repayment

CEO Thomas Laboulle emphasized: “Enterprises increasingly prioritize intelligent, compliant customer engagement. This listing enables us to accelerate AI investment, grow our partner ecosystem, and pursue strategic acquisitions.”

Strong Institutional Interest Signals Confidence

The IPO has attracted cornerstone commitments from:

• Mrs. Lim Hwee Hua (Non-Independent, Non-Executive Chairman)

• Lion Global Investors (investment manager)

• Amova Asset Management Asia

• Ginko-AGT Global Growth Fund

• Pre-IPO investors including Asdew Acquisitions, ICH Synergrowth Fund

Offer timeline:

• Opens: January 14, 2026 (upon Offer Document registration)

• Closes: January 20, 2026, 12:00 noon SGT

• Trading commences: January 22, 2026, 9:00 am SGT (ready basis)

Strategic Timing in Enterprise AI CX Race

Toku’s Catalist debut coincides with enterprises prioritizing AI-native customer experience over legacy CCaaS platforms. APAC’s fragmented regulatory and linguistic landscape creates defensible moats for localized solutions serving financial services (compliance-heavy), healthcare (HIPAA/PDPA), and government (sovereign data).

Partner-led GTM model scales faster than direct sales while end-to-end stack ownership delivers deployment flexibility unmatched by API-only competitors. Post-IPO war chest positions Toku for M&A in adjacent verticals and geographic beachheads.

Singapore’s startup ecosystem gains momentum as Toku demonstrates public markets accessibility for profitable, capital-efficient SaaS at sub-$100M revenue scale – redefining success beyond unicorn chases.

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