Biolidics launches IPO to raise S$6.1m

Singapore

MEDICAL technology company Biolidics on Tuesday launched an initial public offering (IPO) of 27.5 million new shares at S$0.28 each. The placement is in conjunction with its proposed listing on the Catalist board on Dec 19.

The shares will be placed out to retail and institutional investors in Singapore, and represent 11.34 per cent of the company's enlarged share capital. Upon completion of the IPO, Biolidics' market capitalisation is expected to be S$67.9 million.