Alliance Healthcare debuts after raising $4.5m via IPO

The company opened at $0.205 apiece.

Alliance Healthcare Group has been listed in SGX after raising $4.5m through an initial public offering of 32 million shares at $0.20 apiece, an announcement revealed.

The firm received 480 applications received for the 1 million shares available under the public offer. Applicants applied for approximately 18.4 million public offer shares, amounting to approximately $3.7m.

Meanwhile, all 31 million placement shares subscribed for with application which amount to $6.2m.

Alliance Healthcare intends to use the proceeds for its business expansion, including the expansion of its network of self-owned GP clinics, specialist care services and medical facilities in Singapore. They are also eyeing for potential acquisitions, joint ventures and/or strategic alliances, investment in technology systems and expansion of its pharmaceutical business.

Alliance Healthcare’s post-invitation market capitalisation is approximately $41.6m and opened at $0.205.