- Singular Health Group (SHG) is gearing up for its float on the ASX, by launching an initial public offering (IPO) to raise between $5 million and $6 million
- The medical technology company is offering up to 30 million shares under the IPO, each priced at 20 cents each
- That will give the soon to be listed healthcare stock a market cap of around $20 million upon entering official quotation
- The IPO is due to close on January 22, before the new shares under the public offer will be issued on January 27
- Singular Health Group is expected to list on the ASX on February 4
Singular Health Group (SHG) is gearing up for its float on the ASX, by launching an initial public offering (IPO).
The IPO aims to raise between $5 million and $6 million for the medical technology company.
Under the public offer, up to 30 million shares will be offered to investors, at a price of 20 cents each.
That will give the soon to be listed healthcare stock a market cap of between $19.4 million and $20.4 million upon entering official quotation.
Commenting on the company’s future plans, Singular Health Group’s Non-Executive Chairman Denning Chong said the focus will be on developing software.
“Singular Health is a medical technology company focused on the development of medical software for the visualisation, manipulation and transfer of medical imaging data in 3D and virtual reality,” he said.
“Singular Health has acquired and developed the proprietary and patented Volumetric Rendering Platform which aids medical practitioners, patients, educators and students to view complex 2D medical images in 3D and virtual reality,” Denning added.
The company’s IPO is due to close on January 22, before the new shares under the public offer will be issued on January 27.
Singular Health Group is then expected to list on the ASX on February 4.