Skip to main content

IPO Chilli Ratings

IPO Chilli Ratings
Click to understand how it works

Featured

Posted by

Foundation Healthcare Holdings IPO: The Biggest SGX Healthcare Listing Since IHH — Worth Chasing?

Special Edition: Foundation Healthcare IPO Singapore hasn't seen a healthcare IPO of this size in over a decade. Foundation Healthcare Holdings (" FHH ") is looking to raise up to S$242 million at an offering price of S$0.76 per share , implying a market capitalisation of roughly S$1.0 billion — reportedly the largest healthcare listing on SGX since IHH Healthcare's dual-listing back in 2012. Public offer closes 6 July, 12pm , with trading expected to start on 8 July 2026 . Let's dig into what FHH actually does, why parts of the story are genuinely attractive, where I'd want to be careful, and whether the pricing leaves anything on the table for IPO subscribers. The Business: A Doctor Roll-Up With a Tech Layer FHH is a multi-specialty private healthcare platform built on three verticals: Specialists — 108 full-time medical specialists across 16 specialties and 74 specialist clinics as at 31 March 2026, making...
Post a Comment
Read more
Labels
Posted by

Saizen REIT


(Japanese-tori decorated IPO booth at Raffles Place)

Saizen REIT is Singapore's first Japanese residential reit to be listed on SGX. Saizen is offering 196,740,000 Units at S$1 each. The IPO will close on Nov 5 at 8 am.



The 6.5% yield is a bit misleading as it is based from the period from 5 Nov 2007 to 30 June 2008. For the full year from 1 July 2008 to 30 June 2009, the yield is expected to be 5.65%. Investors who want exposure in this REIT should consider the following:
(1) Residental property outlook for the Japan market (an improving market will increase the value of the properties held by the Trust);
(2) The JPY/SGD forex rate. A weak Yen against S$ will mean a lower rental income in S$.
(3) A rise in lending rate in Japan market may increase the cost of borrowing. As it is, the borrowing cost of Yen is low, so any increase in borrowing rate will increase the cost of financing.

You will need to consider if this asset class is suitable to you. For those who punt IPOs, it is likely to be a stag on the first day due to the following:

- Good underwriters in Morgan Stanley
- Stablisation process by Manager
- Yield compression to 5% may provide some upside to IPO price of between $1.10 to $1.30
Email Post
Labels:

Comments

Post a Comment