Latest news with #SingaporePaincare
Straits Times
3 days ago
- Business
- Straits Times
More firms may exit SGX even as it moves to attract listings
ST understands that at least 15 companies have received privatisation offers in 2025 so far. PHOTO: THE BUSINESS TIMES More firms may exit SGX even as it moves to attract listings SINGAPORE – Two more companies have announced moves that may impact their Singapore Exchange listing status even as efforts are being made to boost market interest and attract new IPOs. Local medical services company Singapore Paincare has received a privatisation offer from Advance Bridge Healthcare at 16 cents a share, valuing the company at about $27 million. This was announced after the firm requested a trading halt on May 27. The offer represents a 27 per cent premium over its last traded price and 77.8 per cent above its share price in March 2024, when a potential deal was first announced. Singapore Paincare will be delisted from the SGX's Catalist board if the deal is successful. The company said in a bourse filing on May 28 that it saw 'no necessity for access to equity capital markets' and that it has not carried out any exercise to raise equity capital on the SGX since its initial public offering in 2020, except for a share placement exercise in the same year. It also noted that delisting from the Catalist board would reduce costs relating to the maintenance of its listed status, allowing more resources to be channelled to its business operations. Singapore Paincare did not respond to queries from The Straits Times. Meanwhile, Chinese manufacturer Fuxing China Group, listed on the SGX mainboard since 2007, has received approval to list on the Nasdaq. In a bourse filing on May 23, it said trading in its American Depositary Shares would begin 'very shortly'. The company requested a trading halt on May 29. Fuxing China Group declined to confirm whether it would maintain its SGX listing or provide further details on the Nasdaq move when contacted by ST. ST understands that at least 15 companies have received privatisation offers in 2025 so far. They include Paragon Reit, Fraser's Hospitality Trust, Sinarmas Land, Japfa and Amara Holdings. The offers to Paragon Reit, Japfa and Amara Holdings have been declared unconditional, and they will be delisted from the SGX. Earlier in May, the controlling shareholders of Sinarmas Land also made a second higher offer to take the property developer private. The wave of offers come even as efforts are under way to raise the number of IPOs on the SGX and offset the tide of companies leaving the local bourse. The Monetary Authority of Singapore and SGX RegCo on May 15 unveiled proposals to ease the IPO process, including measures to enable better price discovery on the SGX, or how a fair stock price is determined through market supply and demand. These plans are currently under public consultation. A Reuters report on May 19 noted that at least five companies from mainland China or Hong Kong are looking to launch IPOs, dual listings or share placements in Singapore over the next 12 to 18 months. The report, which cited four unarmed sources, said the companies are eyeing expansion plans in South-east Asia amid global trade tensions. Mr Jason Saw, group head of investment banking at CGS International Securities, said the combination of sluggish domestic consumption and rising competition in the world's second-largest economy has made overseas expansion more urgent for Chinese firms. This might be why interest in SGX listings from Chinese companies exploring secondary listings in the region has picked up noticeably in 2025. 'The IPO 'queues' in China and Hong Kong are also very long – SGX offers a much shorter time to market and serves as a good launchpad into the South-east Asia region,' said Mr Saw, who also noted that Singapore's appeal lies in its transparency, neutrality and clear regulatory framework, 'Companies from the consumer-facing sectors are the ones keenly exploring an SGX listing,' he added. Despite the current dearth of IPOs, Singapore's bourse has emerged as the third-largest Reit listing venue globally by fund-raising, after China and India, in the last five years. Japan's Nippon Telegraph and Telephone in its earnings release in May said it plans to list its data centre Reit on the SGX in the future. Singapore's Centurion said in a January filing that it is exploring the establishment of a Reit involving some of its workers and student accommodation assets. If the plan materialises, the Reit will be listed on the mainboard of the SGX. There are 613 companies listed on SGX as at April 2025, compared with 623 in the same month a year ago. Join ST's Telegram channel and get the latest breaking news delivered to you.
Business Times
4 days ago
- Business
- Business Times
Stocks to watch: CapitaLand Ascendas Reit, Seatrium, Sembcorp, mm2 Asia, Singapore Paincare
[SINGAPORE] The following companies saw new developments that may affect trading of their securities on Thursday (May 29). CapitaLand Ascendas Reit (CLAR) : The company reported that it has raised S$500 million from a private placement of 202.4 million units priced at S$2.47 each, on Thursday. The issue price is a 5.2 per cent discount to the volume weighted average price of S$2.6059 on May 27 when it last traded. The private placement was about 4.1 times subscribed. The company has also requested for shares to continue trading on Thursday. Shares of CLAR last closed on Tuesday at S$2.61. Seatrium : Its net orderbook wins stood at S$21.3 billion as of March, the company announced on Thursday. This comprised 26 projects with deliveries extending to 2031. Projects related to renewables and green or cleaner solutions amounted to S$7.1 billion of its net order book. The counter ended on Wednesday 0.5 per cent or S$0.01 higher at S$2.06. Sembcorp : Its wholly owned renewables subsidiary Sembcorp Green Infra secured a solar energy storage hybrid project in India, the group said on Thursday. Under the project, it will supply solar power and support electricity demand for four hours per day through a 300 megawatt-hour battery energy storage system. The counter ended on Wednesday 1 per cent or S$0.07 lower at S$6.64 mm2 Asia : The media company on Wednesday entered into a sale and purchase agreement with private equity fund Hildrics Asia Growth Fund VCC to dispose of 21.02 per cent of its stake in subsidiary Vividthree Holdings for S$1.7 million. Mainboard-listed mm2 Asia currently holds about 29.9 per cent of the total issued and paid-up share capital of Vividthree. Following the proposed disposal, the company will hold about 8.9 per cent of Vividthree's total issued and paid-up share capital. Shares of mm2 Asia ended flat at S$0.009 on Wednesday. Singapore Paincare : The medical-services company has received an acquisition bid for S$0.16 a share from Advance Bridge Healthcare, a management consultancy for healthcare services. This values the company at US$25.7 million, comprising 171 million shares, and represents a premium of 27 per cent over Singapore Paincare's last traded price of S$0.126 on Monday. The company requested a trading halt on Tuesday, almost three months after it first announced via a bourse filing in March. Shares of Singapore Paincare closed flat at S$0.14 on Tuesday before the trading halt was requested.
Business Times
4 days ago
- Business
- Business Times
Singapore Paincare receives privatisation offer at S$0.16 per share
[SINGAPORE] Medical-services company Singapore Paincare has received an acquisition bid for S$0.16 a share from Advance Bridge Healthcare, a management consultancy for healthcare services. This values the company at US$25.7 million, comprising 171 million shares, and represents a premium of 27 per cent over Singapore Paincare's last traded price of S$0.126 on Monday (May 26). The company requested for a trading halt on Tuesday, almost three months after it first announced via a bourse filing in March that it had been approached for a possible transaction involving its shares. The offer price of S$0.16 represents a 77.8 per cent over Singapore's Paincare's closing price on Mar 3, which was when it first announced that a possible deal was in the works. If the transaction goes through after the necessary regulatory approvals are obtained, Singapore Paincare will be delisted from the Singapore Exchange's Catalist board, the company said on Wednesday in a bourse filing. Singapore Paincare said that it has agreed to the proposed acquisition by Advance Bridge Healthcare because it was an opportunity for shareholders to realise their investment at a premium over the counter's historically traded prices. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up It added that there was no necessity for the company to raise funds through equity capital markets. Since its initial public offering in 2020, the company has not carried out any exercise to raise equity capital through the Singapore Exchange, except for a share placement exercise in the last year, said the company. Advance Bridge Healthcare also believes that Singapore Paincare is unlikely to require access to Singapore equity capital markets to finance its operations in the foreseeable future, given that it may tap other funding sources such as bank borrowings. The company thus said it is not necessary for it to maintain its listing on the Catalist board of the Singapore Exchange. It has also incurred compliance and other costs associated with continuing the listing requirements under the Singapore Exchange. If the company is delisted, it will save on expenses and costs relating to the maintenance of its listed status and channel such resources to its business operations, read the filing. Under the terms of the agreement, Advance Bridge Healthcare has the right to switch its offer to a voluntary conditional cash offer or a pre-conditional voluntary cash offer. Shares of Singapore Paincare closed flat at S$0.14 on Tuesday before the trading halt was requested.
