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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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Ayondo Ltd - Balloting Results





Ayondo Ltd announced that its public tranche was 4.5x subscribed and on an overall basis, the IPO was 1.3x subscribed.

The public allotment results is as follows:


You can see that 36% of the public offering went to investors who applied for 100,000 to 499,900 shares and they will 32% chance of getting 80,000 shares.


In terms of institutional investors, i am surprised to see Pheim Asset Management applying for 30.8% of the public offering, effectively taking up a substantial part of the IPO. You can read about the "investment philosophy" here. 


255 readers participated in my online poll and the majority of it (47%) indicated that they will be giving Ayondo a miss and that only 16% will apply.

The exploding trade war between US and China over the course of last week and the sell down in the tech sector in US on Friday night probably meant that Ayondo has "chosen" the worst time to debut on the SGX on Monday . . .





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