Foundation Healthcare IPO 3.8 times subscribed
The Singapore offering is 9.4 times subscribed, with 3,805 valid applications for 87 million shares
[SINGAPORE] The initial public offering of Foundation Healthcare was 3.8 times subscribed, the company said on Tuesday (Jul 7).
The international offering was 3.5 times subscribed, receiving interest for around 531.7 million shares for the 153.4 million shares available.
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.
Shares of the healthcare company are set to begin trading on the Singapore Exchange (SGX) at 9 am on Wednesday.
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.
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.
