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Qualitas Medical eyes listing on SGX mainboard

QUALITAS Medical, which is planning a listing on the mainboard of the Singapore Exchange (SGX), has lodged its preliminary prospectus with the Monetary Authority of Singapore.

This would mark its return to the bourse as a bigger entity after being taken private in 2011. Previously, the regional healthcare player spent three years on SGX's Catalist board.

According to its preliminary prospectus, Qualitas - which is backed by Singapore-based private equity firm Southern Capital Group - has a network of some 240 general practitioner clinics, 27 dental clinics and 12 medical imaging centres across Malaysia, Australia, Singapore and India.

Under the offering, there will be an international placement to investors - including institutional and other investors in Singapore - as well as a public offer in Singapore. Some shares in the international offering have been reserved for the directors, management, employees and business associates of the group who have contributed to its success.

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The net proceeds from the listing will be used for strategic investments and acquisitions in new and existing markets such as Indonesia, Myanmar and Vietnam, organic growth and potentially new ambulatory care centres in Malaysia, clinics in Singapore and medical imaging centres in Australia, as well as general corporate purposes.

Qualitas posted a net profit of S$6.13 million for the year ended Dec 31, 2016, up from S$5.76 million in the previous fiscal year.