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Fullerton Healthcare taps market with ambitious plans for expansion in China

Chan Chao Peh Published on Fri, Oct 07, 2016 / 9:12 AM GMT+8

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The universe of 30 healthcare stocks listed on the SGX is set to expand.

On Sept 28, Fullerton Healthcare Corp lodged its draft listing prospectus, which indicates an intention to sell 140.3 million shares, excluding the overallotment option, at an “indicative” price of $1.73 a share. With a total share base of 742.6 million, this will value the company at $1.285 billion. That would make it the seventh largest healthcare stock in the local market. The largest, by far, is IHH Healthcare, which has a market value of some $18 billion. Raffles Medical Group, the 40-year-old stalwart of private medical practice in Singapore, is worth around $2.7 billion.

Fullerton was founded only in 2010 by two medical doctors — group CEO Michael Tan, and group deputy CEO Daniel Chan. The vice-chairman of the company is David Sin, whose SIN Capital has been its main backer and is currently its largest shareholder.