ICS BANKS Initial Public Offering (IPO) System

ICS BANKS IPO which stands for Initial Public Offering (IPO) is a system that handles the underwriting process when the bank is acting as the institution holding the IPO activity.  ICS BANKS IPO enables the first sale of stock by a private company to the public. ICS BANKS IPO made the process of applying for IPOs easier, using different payment methods available in the system such as cash payments, inward transfers, bank manager cheques, clearing manager cheques, customer own cheques or from customer account – hence the subscriber is the bank’s customer.

Before starting the IPO process, the bank should define the IPO parameters in the system including IPO start and end date, minimum and maximum amount of shares for subscription to be validated during the IPO subscription period. Bank customers and non-customers can apply to subscribe for shares. The system also accepts entering more than one subscription order for different beneficiaries, in one payment transaction.

The bank can generate a consolidated report through ICS BANKS IPO system for all of the IPO subscription activities that are booked in the bank branches, and will be sent to the underwriting company showing the total amount of subscription.

For further information about ICS BANKS IPO, please do not hesitate to contact us at contactus@icsfs.com