IHC closes $50m placement, commences trading on SGX Catalist

Largest company to-date by market capitalisation.

International Healthway Corporation Limited (IHC), an integrated healthcare services and facilities provider, announced that its placement of 104,355,000 shares has closed.

Dr. Jong Hee Sen, Executive Chairman and Group President of IHC, said: “We are delighted to be the largest company, by market capitalisation, to be listed on Catalist to date with an IPO market capitalisation of over S$770 million. At the same time, we are pleased with the investing community’s confidence in our Group’s fundamentals.

"With our robust initial portfolio of 15 properties that encompasses hospital, nursing facilities and land banks across Malaysia, the PRC and Japan, we are poised to ride on the fast-growing healthcare industry in these major Asian economies. Going forward, we plan to grow and enhance our presence in the three countries, as well as seek opportunities in others in the region, and enhance our business operations. Eventually we may establish listing vehicles, such as REITS, to enhance shareholder value.”

IHC’s market capitalisation will be approximately S$770.33 million, based on the total issued share capital of 1,604,845,042 shares and the Placement price of S$0.48.

Trading on a “ready” basis is expected to commence at 9:00 a.m. on Friday, July 8, 2013.