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IPO Chilli Ratings

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Singapore Institute of Advanced Medicine Holdings Ltd

Singapore Institute of Advanced Medicine Holdings Ltd ("Sam" or the "Company") is offering 114m new shares comprising 4.415m Public Offer Shares and 109.585m Placement Shares at $0.23 each for a listing on Catalist.  The Company aims to raise $26.2m and the majority of the proceeds will be used to repay debt and the balance for working capital. The market cap based on the IPO price is $231.8m and the offer will close on 14 Feb at 12 noon and starts trading on 16 Feb 2024 at 9am.   Principal Business SAM is a healthcare service provider using advanced technology for early and accurate diagnosis to detect and treat cancer, neurodegenerative and cardiovascular diseases.  SAM has strategic collaborations with public and private institutions for research and clinical work.  SAM's goal is to create a comprehensive one-stop ambulatory cancer centre to undertake the challenges to fight cancer and is one of the first to adopt proto beam therapy treatment in Singapore. Fi

Econ Healthcare (Asia) Limited - Balloting Results

Econ Healthcare ("Econ" or the "Company") announced that its public offering of 1.8m shares was 86.9x subscribed. Including the 48.2m placement shares, the offering was around 4.1x subscribed.

Mr Ong Chu Poh (王再保), founder, Executive Chairman and Group Chief Executive
Officer of Econ Healthcare, said: "We are highly encouraged by the response we have
garnered for our IPO, which is indicative of the investing public's recognition of Econ
Healthcare's growth potential. We believe that our established track record of 30 years of
experience in senior care, as well as our resilient business model, will enhance the
Group's market position in the industry as we scale and expand our service offerings."
 
"We are committed to serve the senior community, and bring the best of care and service
to families and communities in the region. I am confident that we are in a good position
to capture the growth opportunities that exist with the growing ageing population in
Singapore, Malaysia and China," added Mr Ong.

The  balloting table is below for your reference.



Looking at the balloting table, I believe investors who applied for the IPO will be very upset and rightly so! Investors who are not allotted should feel very lucky instead.

The Company has basically made it difficult for public investors to sell their shares. Imagine you applied for 100,000 shares and you were allotted 1,500 shares. You can't even flip the shares at 30c as you can't cover your brokerage fees. Personally I think the Company should not have adopted this allocation strategy and irritate the investors. It should have allocated a more meaningful sum even if it means a lower probability of getting those shares via balloting. 

The Company also didn't announce any institutional investors coming in for this offering, which doesn't bode well for post-IPO market support as well.

Let's see how it performs on Monday...

Comments

Unknown said…
You are so right.
Anonymous said…
I have been following this blog since few months. I think the chilli rating is great. and the explanation of each new IPO is very comprehensive. too bad I didn't buy this stock. now already 44% went up.
Anonymous said…
OTS IPO u covering? https://www.businesstimes.com.sg/companies-markets/ots-holdings-prices-ipo-shares-at-s023-each
Anonymous said…
What's your take on OTS IPO?
Mr. IPO said…
Saturday will work on it. Still have time. 🤣
Anonymous said…
Hi, Mr. IPO
Thanks for sharing so much knowledge!
As I know normally the cost for selling stock minimum is S$25. The application cost is S$2. I am curious for these who are allocated with 1000 shares at price S$0.2+. Need stock price going up 10% to cover the cost?
Or is there any way to sell it with a low cost? could you recommend please?
Mr. IPO said…
I think the cheapest brokerage maybe FSMone. So you can open an account with them to sell the shares for a minimum charge of $8.80? You may want to find out if possible from their website.