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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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Singapore IPOs for 2025


(Source: Shareinvestor.com)

My last post was on Oct 13, 2024. It has been more than a year since I posted and since then, there were 16 IPOs of which 14 happened in 2025.

For those who have been wondering where I have been - well, I took on a new role and that basically killed off whatever spare time I had.

Am I back with a roar for 2026, probably not. I will only post if there are IPOs that I am interested in. The only IPO in 2025 that I would have bought will probably be Centurion Accommodation REIT. Ultragreen.ai is interesting but will require a leap of faith.

As you can see from the table above, most of the IPOs are still holding above water as of today (either green or yellow), which is pretty "amazing" considering how dead the market has been. Not all IPOs have public tranche, and are quite limited in supply even if there is one. So the risk versus reward isn't there for punting IPOs. I think it will be the same for 2026.

I will do some analysis for the first two deals since I took on some placement shares so watch this space.

Happy IPOing! 

 
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Comments

Anonymous said…
I’ve been searching for your posts every time there is an IPO. Welcome back!
17 January 2026 at 22:39
Anonymous said…
Welcome back! I’ve been missing your IPO post
17 January 2026 at 22:40
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