From the start of 2018 through to 28 December, there were 15 companies listed in Singapore’s stock market through an initial public offering (IPO). Of the 15, only two managed to do well in terms of their share price performance since listing. Let’s check them out in this article.
The best IPO performer in 2018 is Asian Healthcare Specialists Ltd (SGX: 1J3). The company is made up of five senior and experienced orthopaedic medical specialists operating at four clinics under The Orthopaedic Centre brand. Together, they provide a wide range of general and sub-specialised orthopaedic, trauma and sports services. Asian Healthcare Specialists was listed in April 2018.
For the company’s financial year ended 30 September 2018 (FY2018), revenue inched down by 1.4% to S$10.9 million. The fall was mostly due to a decrease in the number of patient visits as compared to last year.
Profit before tax, however, surged 526% to S$2.9 million. The increase was mainly as a result of the termination of consultancy services agreements and commencement of employment agreements for four doctors. Consequently, net profit went up by 460% to S$2.5 million in FY2018. Excluding the one-off listing expenses of around S$0.9 million, the adjusted net profit would be S$3.4 million.
The company announced a final dividend of 0.4 Singapore cents per share. Together with the interim dividend of 0.2 Singapore cents per share already paid out, the total dividend payment for FY2018 is 0.6 Singapore cents per share.
The company last traded at S$0.26, up 13% from its IPO price of S$0.23. To know more about Asian Healthcare Specialists and its IPO details, you can head here.
The only other company that is trading above its IPO price is Medinex Limited (SGX: OTX), which was listed in December 2018. The firm provides professional support services to medical clinics. Outside of the healthcare industry, Medinex offers business support services such as accounting and tax agent services. Some of the industries it serves include food and beverage, retail, education and beauty.
From 2015 to 2017 (the company’s fiscal year ends on 31 December each year), Medinex’s revenue rose from S$1.37 million to S$3.04 million. Likewise, its net profit grew from S$0.49 million to S$0.95 million. To learn more about Medinex and what the company wishes to do with its IPO proceeds, you can check out the article here.
Medinex’s share price closed at S$0.27 on Friday, up 8% from its IPO price of S$0.25.
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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.