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Clearbridge Health Limited’s Initial Public Offering: What You Need to Know

So far this year, there have been 19 initial public offerings (IPOs) in Singapore’s stock market. The IPO counter, however, has not stopped ticking as Clearbridge Health Limited is slated to be the latest kid on the block.

Here are 10 things that you should note about the company’s listing:

1. Clearbridge Health, which was founded in 2010, has a focus on delivering precision medicine in Asia. Its business comprises: (a) provision of laboratory testing services; (b) ownership and operation of medical clinics/ centres; and (c) strategic equity participation in precision medical technology firms.

2. Its vision is to “empower clinicians and healthcare professionals to make more reliable and accurate diagnoses, provide insights to disease management, and tailor personalised prevention and timely treatment programmes for patients.”

3. A total of 88 million shares will be on offer at a price of S$0.28 apiece. All the shares are for placements to certain investors, with no shares offered to the general public.

4. The listing will raise net proceeds of S$21.5 million. Clearbridge Health plans to use the money to expand its medical clinics and centres (S$11 million), grow its laboratory testing services (S$3 million), and for general working capital purposes (S$7.5 million).

5. Post-IPO, the company would have a market capitalisation of S$134.7 million.

6. For the first six months of 2017, Clearbridge Health’s net loss widened to S$2 million from S$1.3 million a year ago.

7. In 2016, the company had a net loss of S$1.3 million on the back of S$716,000 in revenue.

8. As of 30 June 2017, it had a cash balance of S$9.8 million and total debt of S$1.6 million.

9. The healthcare outfit has no dividend policy.

10. The IPO closed today at 12:00 pm, and trading is expected to commence on 18 December 2017 at 9:00 am.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.