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FULLERTON Health has lodged its preliminary prospectus for a listing on the main board of the Singapore Exchange (SGX) - the first healthcare company to have an initial public offering (IPO) this year.
Based on the prospectus filed on Wednesday, the group is offering 140.3 million shares.
The offering comprises an international placement to investors, including institutional and other investors in Singapore, as well as an offering to the public here.
The proceeds will be used primarily to fund potential acquisitions, proposed investments in Fullerton China and the Bideford Road building, as well as for general corporate and working capital purposes.
JP Morgan (SEA) Limited has been appointed sole issue manager for the offering, which will be fully underwritten by JP Morgan, UBS AG Singapore Branch, Credit Suisse (Singapore) Limited and DBS Bank.
Fullerton Health has also appointed JP Morgan and UBS AG as joint global coordinators for the offering.
The move comes after the group in July issued S$50 million 2.45 per cent senior unsecured guaranteed bonds due 2021 and S$50 million 2.75 per cent senior unsecured guaranteed bonds due 2023.
The bonds are unconditionally and irrevocably guaranteed by Credit Guarantee and Investment Facility, a trust fund of the Asian Development Bank, and the net proceeds were used to refinance revolving and term loan facilities and bridge financing indebtedness.
The Singapore-based group now comprises close to 200 wholly owned clinics and facilities in the Asia-Pacific region with a staff of 400 doctors and 700 nurses, on top of its network of 8,000 associate hospitals and clinics.