S$242 million initial public offering and listing of Foundation Healthcare Holdings Limited
Allen & Gledhill, as transaction counsel, advised Foundation Healthcare Holdings Limited (“Foundation Healthcare”) on its S$242 million initial public offering (“IPO”) and listing on the Main Board of the Singapore Exchange Securities Trading Limited (“SGX-ST”).
The IPO comprised the offering of shares by Foundation Healthcare and sale of shares by SeaTown Private Capital Master Fund, Kuik Pte Ltd, KCM Investments Pte. Ltd., Mr Liaw Yit Ming, Dr Lee Hong Huei, and Ms Choy Shook Yee (“Vendors”).
Foundation Healthcare is the largest multi-specialty healthcare platform based on number of specialists and specialist clinics among key private specialist groups in Singapore. Its market capitalisation at listing was approximately S$1.01 billion.
This is the largest IPO of a healthcare services provider on the SGX-ST since 2012 and the largest non-REIT IPO in 2026 to date.
A separate team from Allen & Gledhill advised Granite Asia IX VCC, one of the cornerstone investors in the IPO.
Advising Foundation Healthcare and the Vendors as to Singapore law were Allen & Gledhill Partners Tan Tze Gay, Rhys Goh, Wu Zhaoqi, and Sunit Chhabra.
Advising Granite Asia IX VCC were Allen & Gledhill Partners Julian Ho and Kern Wong.
