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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...

Soilbuild Business Space REIT

Soildbuild Business Space REIT launched its IPO yesterday at a final price of $0.78. The prospectus is here.

The IPO time table as as follows:



My preview post was here and i have nothing to add except that it is good to see it being priced at 78c. It should have a few cents upside but don't expect more as this is after-all a yield play.


Valuation



At least at 78c, investors are buying the properties at slightly below the more conservative valuation from CBRE, which in my view, is good and leave some money on the table for investors.

Mr IPO's ratings

I will be vested with some shares and will probably apply for some at the ATM. No change to my fair value range and the Chilli ratings.

Happy IPOing.

Comments

Anonymous said…
I supposed u are vested with pte placement, so applying thru atm wont be under your name right?
Mr. IPO said…
This one can apply multiple under one name
james said…
you mean some ipos can have placement and apply through atm while some cannot? how do we know which ones can?
Mr. IPO said…
No la. Some can get placement shares through broker and apply via ATM at the same time.
Mr. IPO said…
Not sure what u meant. Blogger platform ? Owned by google. Hahaha so google platform?
james said…
Sorry can i clarify something- you said some can get placement shares through broker and apply via ATM at the same time, so there are ipos that let say if i get placement shares i cannot apply via ATM?

My broker told me that if i get via placement i cannot apply via ATM, is it true?

If indeed different ipos have different rules, how do we know then which are the ipos can apply placement and also via ATM and which ones only can apply placement cannot apply via ATM

Thank you for the clarification
Mr. IPO said…
It depends la. For smaller float IPOs you get placement shares and u can't apply via ATM. This is becuse they want to ensure they meet the minimum shareholders rule. For others very popular and bigger IPOs like
REITs , they are not concerned about the minimum number of shareholders so they can allow multiple applications. You will need to check the prospectus or your broker for each specific IPO.