Singapore Institute of Advanced Medicine Holdings to raise $26.2m in IPO

The company’s IPO was 1.01 times subscribed.

Singapore Institute of Advanced Medicine Holdings (SAM Holdings) announced that its initial public offering (IPO) was 1.01 times subscribed, expecting gross proceeds of $26.2m.

In a bourse filing, the company received 286 valid applications for  6,141,000 public offer shares.

The company issued 114,000,000 invitation shares under the invitation, of which, 4,415,000 invitation shares were made available to the public for subscription.

The public offer was 1.39 times subscribed.

Taking into consideration the valid applications for the invitation shares, SAM Holdings has decided that the aggregate number of 114,000,000 invitation shares will be re-allocated as follows: 

• 109,126,000 invitation shares pursuant to the placement; and  
• 4,874,000 invitation shares pursuant to the public offer

Trading of SAM Holdings’ shares commenced on 16 February under the ticker “9G2” on the Catalist Board of the SGX-ST.