(June 15): Foundation Healthcare Holdings Pte Ltd plans to file its initial public offering (IPO) prospectus in Singapore in the coming days, according to people with knowledge of the matter.
The company, which is backed by SeaTown Holdings Pte Ltd, then aims to take investor orders for a listing that may take place in the third quarter, the people said, asking not to be identified because the information is private. It is seeking to raise as much as $500 million in the IPO, which could value it at more than US$1 billion ($1.28 billion), the people said.
Deliberations are ongoing and details may change, the people said.
Representatives of Foundation Healthcare and SeaTown declined to comment.
Singapore’s IPO market is picking up momentum this year, with five IPOs so far raising about US$912 million data compiled by Bloomberg showed. UI Boustead Real Estate Investment Trust’s listing accounts for the lion’s share of that total.
Singapore-based SeaTown invested $150 million in Foundation Healthcare in 2023. Other shareholders include family office Blue7 Pte Ltd, Citrine Capital Sdn Bhd, property tycoon Kuik Ah Han’s family and Rizal Gozali, an Indonesia-based managing director of Jefferies Financial Group Inc, company filings showed.
See also: General Atlantic in talks to lead funding for China’s Kling AI — Bloomberg
Uploaded by Tham Yek Lee
