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IPO Chilli Ratings

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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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Far East Hospitality Trust (Preview)

I took a quick glance at the draft IPO prospectus.

Just the structure alone, its is much better than the Ascendas Hospitality Trust where all the hotels are parked under the Hotel Reit and not under the business trust.

According to the email, the price will range from 86c (6% annualised yield) and 93c (6.5% annualised yield) for FY 12E.

The presence of reputable cornerstone investors are also very reassuring and it will be them who will dictate the pricing.

CDL H-Trust is trading at 5.7% yield and Ascott Residence Trust is trading at 7.2% yield. In this regard, my only complaint is that the yields are on the 'low side'. It will be good if Far East can leave some meat on the table by pricing the issue at the mid to lower end of 86 cents. If it prices it at 93c, i am afraid the upside is probably limited. My guess is 88c ? :-P

Anyway, with regards to this email, probably i will ask for some allocation and hope that it will be priced at the lower end. The hotels are mid-scale but well-located (mostly) within the Orchard area except for one Changi Village Hotel... :-P

Happy IPOing. I will give the chilly ratings when the final pricing is out but it will likely be either 1 or 2 chillis rating.

Subsequent update to this post

 Please find a fact sheet about this IPO from OCBC.
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Comments

Hamz said…
Will it be a good investment? I'm new to stocks and have been looking at the recent ipos.. Not sure if I should try to apply for this.. Amy advice?
6 August 2012 at 23:43
Mr. IPO said…
Will let u have the chilli ratings when the final pricing is out.
7 August 2012 at 21:51
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