Clearbridge Health plans to list on the Catalist board while Addvalue Technologies is planning to spin off a subsidiary on the Catalist.
Clearbridge Health to list on SGX Catalist
Medical technology investment firm Clearbridge Health, formerly Clearbridge Accelerator, is looking to conduct an initial public offering (IPO) on the Singapore Exchange (SGX). Financial terms of the IPO are currently undetermined.
United Overseas Bank is the sponsor, issue manager and placement agent for the Catalist listing. Controlling shareholders of Clearbirdge Health are non-executive non-independent chairman Johnson Chen and QED Innovate.
IPO proceeds will see it expand its network of medical clinics and laboratory testing services business organically or through investments, acquisitions and joint ventures (JVs).
Incepted in 2010 by Chen, it rebranded to Clearbridge Health in April 2017. It positions itself as a healthcare firm with a focus on precision medicine in Asia that includes laboratory testing, diagnostics and personalised treatments.
As of 20 October 2017, a total of 14 companies have completed IPOs on the Singapore bourse, raising S$3.1 billion of proceeds, including the largest IPO in the Asia Pacific for 2017, the public float of Netlink Trust. Of those, 10 listings were on the Catalist growth board.
Addvalue Technologies explores spinoff listing of AVS on Catalist
Singapore-listed satellite-based communication and data services provider Addvalue Technologies is exploring the potential spin-off of its subsidiary Addvalue Solutions (AVS) on the SGX Catalist.
The firm is also exploring a transfer to the Catalist board following the introduction of a minimum trading price rule of 20 Singapore cents for Mainboard-listed companies.
Currently, Addvalue is finalising terms of engagement of its advisers and the continuing sponsor for the transfer of its listing.
AVS has been in discussions with players in the low earth orbit (LEO) satellite industry regarding the adoption of the IDRS services for their space missions. Concurrently, it is developing a marketing strategy to promote the IDRS products and services globally.