Novena Global headed for Taiwan listing to raise US$150m

Singapore

SINGAPORE-BASED Novena Global Lifecare Group (Novena) plans to list on the Taipei Exchange (TPEx) as part of its plan to expand regionally to meet buoyant demand from "affluent Asians to stay healthy and look young", it said on Monday.

The group wants to raise US$150 million (S$203.58 million) in an initial public offering (IPO) and use the funds to grow organically and through acquisitions.This makes Novena the fourth Singapore-based healthcare-related firm in the last four months with intentions to take its IPO outside the Republic.

The other three are ASLAN Pharmaceuticals, a Singapore-based biotechnology company focused on the development of immunotherapies for Asia prevalent tumour types; Tessa Therapeutics (Tessa), a clinical-stage biotechnology company focused on the development and commercialisation …