Foundation Healthcare sets stage for SGX listing with $242m IPO

The IPO will offer 162,566,600 shares at $0.76 each.

Foundation Healthcare Holdings Limited lodged its prospectus with the Monetary Authority of Singapore (MAS) on 1 July 2026 for its proposed initial public offering (IPO) and listing on the Mainboard of the Singapore Exchange Securities Trading Limited (SGX-ST).

The IPO will offer 162,566,600 shares at $0.76 each.

This comprises an international offering of 153,356,000 shares and a Singapore public offer of 9,210,600 shares.

The Singapore public offer opened at 9pm on 1 July 2026 and will close at noon on 6 July 2026.

Trading of the shares on the SGX-ST Mainboard is expected to begin at 9am on 8 July 2026 on a “ready” basis, subject to the completion of the offering.

The company expects the IPO, together with the sale of shares to and subscriptions by cornerstone investors, to raise gross proceeds of about $242m.

Of this amount, about $100m will go to Foundation Healthcare.

The company said it plans to use the net proceeds mainly for investments in and acquisitions of specialist practices and medical centres in Singapore, expansion into new markets, and general corporate and working capital needs.

Foundation Healthcare operates an integrated healthcare platform covering specialist services, medical centres, and healthcare technology.

As at 31 March 2026, its network included 108 medical specialists across 16 specialities, operating from 74 specialist clinics and four medical centres.

The platform is supported by AVA®, the company’s proprietary healthcare technology system.

Its medical centres include Foundation Ambulatory Centre (Novena), Foundation Ambulatory Centre (Orchard), and Foundation Imaging and Care IVF.

Foundation Ambulatory Centre (Novena), which began operations in February 2026, is the largest standalone day surgery centre in Singapore by floor area.

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