Asian Healthcare Specialists shares fully placed; trading on Catalist to commence April 20

ASIAN Healthcare Specialists (AHS) has placed out 46.9 million new shares at S$0.23 apiece ahead of a listing on the Singapore Exchange's Catalist board.

Only 337 placees got shares, one of them being Ho Bee Land chairman and CEO Chua Thian Poh, who received 4.6 million shares.

Dr Chin Pak Lin, executive chairman and CEO of AHS, said: "We are encouraged by the strong investor support in the IPO. We believe that a listing on Catalist will allow us to access the capital markets to expand our business locally and regionally, as well as grow our talent pool to continue building our brand name."

Operating under "The Orthopaedic Centre" brand, AHS's medical specialists perform knee and hip replacements, sports medicine and surgery, spine surgery, foot and ankle surgery and minimally invasive orthopaedic procedures.

There was no public tranche and trading will commence on April 20.

The placement raised around S$9.5 million in net proceeds.

AHS will have a market cap of S$66.7 million upon listing.