Alliance Healthcare Group eyes Catalist listing in Singapore
ALLIANCE Healthcare Group, an integrated healthcare group based in Singapore, is planning an initial public offering (IPO) in the Republic to fund its business expansion.
On Friday, it lodged a preliminary offer document to list its shares on the Catalist board sometime in 2019.
Led by executive chairman and CEO Barry Thng, the group consists of four main business segments, namely managed healthcare solutions, GP clinic services, specialist care services and pharmaceutical services.
The firm did not disclose the amount to be raised, but proceeds from the deal will go into expanding its network of self-owned GP clinics, specialist care services and medical facilities in Singapore, as well as to pursue growth through acquisitions, joint ventures and strategic alliances.
It is also intending to invest in technology systems as part of the digital transformation of healthcare services delivery. In particular, it is looking at collaborating with an undisclosed financial institution on innovation technology initiatives and developing a separate digital medical platform catering to individuals in South-east Asia.
It's also planning to expand its pharmaceutical services business to become a regional supplier in South-east Asia.
In its latest FY2018 results, Alliance Healthcare's profit after tax stood at S$3.48 million, up from S$1.74 million a year ago. Its revenue for the full-year came in at S$33.82 million, up from S$29.44 million in FY2017.
The company said that it does not have a fixed dividend policy, with future dividends up to the discretion of the board. However, it said it intends to recommend and distribute dividends of at least 30 per cent of its net profit after tax for FY2020 and FY2021.
CIMB Bank Berhad, Singapore branch is the sponsor and issue manager, while CGS-CIMB Securities (Singapore) is the underwriter and placement agent.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq
DBS puts 46 retail units, HDB shops on market for S$210 million
China to facilitate Hong Kong IPOs and expand Stock Connect
Global equity funds see surge in outflows as rate cut hopes fade
Gazelle Ventures makes cash offer for No Signboard shares at S$0.0021 apiece