Singapore-based healthcare firm, Ardmore Medical Group Limited (Ardmore), and Russian agriculture group, Don Agro International Limited (Don Agro), have lodged their respective preliminary prospectuses to list on the Singapore Exchange Catalist Board.
The pricing, timing, and offering size of both upcoming IPOs are not finalised yet.
The sponsors for Ardmore and Don Agro proposed IPOs are SAC Capital Private Limited (SAC) and PrimePartners Corporate Finance Pte Ltd respectively.
Ardmore specialises in orthopaedic surgery, aesthetics and wellness, anaesthesiology and pain management. Ardmore’s controlling shareholder, Ardmore Consolidated Pte Ltd. (ACPL), owns 92.9 per cent of the company’s total issued share capital.
For FY 2018, Ardmore’s total revenues rose 59.67 per cent year-over-year (YoY) to S$8.86 million ($6.54 million) from S$5.55 million ($4.10 million) in FY 2017. Its total profits for FY 2018 rose 61.63 per cent YoY to S$3.20 million ($2.36 million) from S$1.98 million ($1.46 million) in FY 2017.
Meanwhile, Don Agro is engaged in the cultivation of agricultural crops and the production of raw milk in Russia. Its core business is farming of commercial crops such as wheat, sunflower, sorghum, corn, and flax. Don Agro controls a land bank of approximately 53,200 hectares, of which approximately 41,167 hectares are arable, and approximately 12,800 hectares of the controlled land bank is owned by the group.
In FY2018, Don Agro’s total revenues stood at S$24.38 million ($17.99 million), up 5.10 per cent YoY from S$23.19 million ($17.12 million) in FY 2017. It reported profits of S$6.39 million ($4.72 million), up 55.79 per cent YoY from S$4.10 million ($3.03 million) in FY 2017.