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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...
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Joyas International Holdings Limited


(IPO booth at Raffles Place - compliments from Fergus)

Joyas International Holdings Limited ("Joyas") is principally engaged in the design, manufacture, packaging and sale of metal gift and jewellery products. The Company is offering 1m shares at $0.29 for public and 27.8m shares at $0.29 for private placement. The offer will close on 11 March 2008 at 12 pm.

The profit of 1H07 is flushed with gains from disposals of lands and buildings, which was disclosed on page 46 and 66 of the prospectus. The EPS for 1H2007 (excluding gains from disposals) and using the post-invitation number of shares is 9.93 HK cents. Assuming full year EPS is 20 HK cents (1H07 x 2) or Singapore 3.56 cents.

At the IPO price of 29 cents, Joyas is priced at a historical PE of 8.15x. The market cap of the Company is S$31.1m.

Basically this is a small cap stock and the Company is already fully valued at current IPO price. Avoid.
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