When we imported multi point file from UNIGRAPHICS in igs format, CATIA can't treat it like a cloud file.
How we can convert any point igs file in to CATIA cloud file.
I think you can go to the Free Style Workbench, there should be a "Import Cloud" icon, then select the iges file, I did that many times and it worked for me...
Catia V5 dosn't recognise iges point entities in the import point cloud function which I find a bit strange. What I have had to do is either manually edit the iges file or translate it to DXF and use a DXF to xyz utility I found on the web. The last option has given me good results and if you need the utility ( its freeware ) I should be able to point you to the website.