Econ Healthcare prices IPO shares at S$0.28 each

OPERATING as a private business for close to a decade had given Econ Healthcare the leeway to restructure and prepare for future growth, but the private nursing home operator is now ready to go public again.

The firm had on Friday lodged its final prospectus, offering around 50 million shares at S$0.28 each for placement in its initial public offering (IPO). The shares, to be listed on the Catalist board, comprise around 48.2 million placement shares and 1.8 million shares under the Singapore public offer.

Based on the offer price and the post-offer share capital of 257 million shares, Econ Healthcare's market capitalisation upon the listing will be approximately S$72 million.