Econ Healthcare goes public, after nearly a decade in private

The private nursing home operator has launched a new, relisting IPO.

One of the largest private nursing home operators in Singapore and Malaysia, Econ Healthcare, is relisting back to the Catalist Board of the Singapore Exchange. That's after going private back in 2012, citing low trading liquidity.

The company will be offering 50 million shares priced at $0.28 cents per share. Based on the Offering Price and the post-Offering share capital of 257,000,000 Shares, Econ Healthcare’s market capitalisation upon the listing will be at $72m.

The IPO will net $11.5m which Econ Healthcare will use for its expansion plans overseas and in Singapore. as well as opening the company’s first nursing home operations in China.

“Econ Healthcare has grown from strength to strength over the past three decades. We have built up a resilient business model with excellent operational know-how that we can leverage as we scale and expand our service offerings to meet the demands of growing ageing populations in Singapore, Malaysia and China,” said founder and executive chairman Ong Chu Poh.

The Public Offering opened in Singapore on 10 April 2021 and will close at 12.00 noon on 15 April 2021. Trading of Econ Healthcare’s shares is expected to commence on a “ready” basis at 9.00 a.m. on 19 April 2021.