The Singapore offering is 9.4 times subscribed, with 3,805 valid applications for 87 million shares<\/p>\n
[SINGAPORE] The initial public offering of Foundation Healthcare was 3.8 times subscribed, the company said on Tuesday (Jul 7).<\/p>\n
The international offering was 3.5 times subscribed, receiving interest for around 531.7 million shares for the 153.4 million shares available.<\/p>\n
The Singapore public offering was 9.4 times subscribed, with 3,805 valid applications for 87 million shares, amounting to S$66.1 million; 9.2 million shares were available for subscription.<\/p>\n
Shareholders include long-term institutional investors, insurers and fund managers part of Singapore\u2019s Equity Market Development Programme, said Liaw Yit Ming, executive director and chief executive of Foundation Healthcare.<\/p>\n
Liaw noted that healthcare demand continues to be underpinned by long-term structural trends including an ageing population; rising demand for specialist-led care; the shift towards outpatient healthcare delivery; increasing emphasis on appropriate and value-based care; and growing healthcare digitalisation.<\/p>\n
The offering was underwritten by Jefferies Singapore, OCBC, UBS Singapore, DBS and UOB.<\/p>\n
Together with cornerstone commitments from 10 cornerstone investors, the IPO amounted to around S$242 million, assuming the over-allotment option is not exercised.<\/p>\n
Shares of the healthcare company are set to begin trading on the Singapore Exchange (SGX) at 9 am on Wednesday.<\/p>\n
Temasek-backed Foundation Healthcare announced on Jul 1 that it was seeking to raise S$242 million on the main board of the SGX, with an offer of 162.6 million shares at S$0.76 apiece.<\/p>\n
Net proceeds from the offering will mainly fund investments in and acquisitions of specialist practices and medical centres in Singapore; they will also go towards investments to support expansion plans in new markets, and general corporate and working capital purposes.<\/p>\n","protected":false},"excerpt":{"rendered":"The Singapore offering is 9.4 times subscribed, with 3,805 valid applications for 87 million shares [SINGAPORE] The initial…\n","protected":false},"author":2,"featured_media":529784,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[163,521,85,23831,46],"class_list":["post-529783","post","type-post","status-publish","format-standard","has-post-thumbnail","category-healthcare","tag-health","tag-healthcare","tag-il","tag-ipo","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/529783","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=529783"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/529783\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/529784"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=529783"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=529783"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=529783"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}