Singapore-based Foundation Healthcare is eyeing to make its debut on the Straits Times Index (STI) in an initial public offering valued at SG$242 million, Reuters reported Tuesday, citing a term sheet.
The private healthcare group plans to price its shares between SG$0.76 and SG$0.92 each, which could generate a market capitalization in the range of SG$1.01 billion to SG$1.20 billion. The shares are expected to commence trading on the STI on July 8, the report said.
The IPO includes about SG$118 million in shares earmarked for cornerstone investors, including Amova Asset Management Asia, Aregence Capital, Granite Asia, Hood River Capital Management, IFC, Lion Global Investors, Manulife Investment Management, Openspace Capital, RBC Global Asset Management, and UBS, according to the report.
Foundation Healthcare did not immediately reply to' request for comment.
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