UG Healthcare IPO received $65.4m in application monies

Placement Tranche was fully subscribed.

Malaysia-based manufacturer and distributor of latex examination gloves UG Healthcare received strong demand from both institutional and retail investors for its IPO of 28,800,000 shares priced at $0.215 per share.

According to a media release, 2,468 valid applications were received for the Public Offer. These applicants applied for an aggregate 304,350,000 Offer Shares, with application monies received amounting to approximately S$65.4 million. In addition, the Placement Tranche was fully subscribed, with application monies received amounting to approximately S$5.8 million. Based on the total Invitation size of 28,800,000 shares and total valid applications received for 331,133,000 Invitation Shares, the Invitation was approximately 11.50 times subscribed.

UG Healthcare was listed on the Catalist of the Singapore Exchange Securities Trading Limited (“SGX-ST”) under the stock code 41A and trading of its shares commenced today.

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