HC Surgical Specialists *Official* (SGX:1B1)

jmapsmylife

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Medical services group HC Surgical Specialists (HCSS) is selling some 30 million new shares at 27 cents each at its initial public offering (IPO) in conjunction with its listing on the Catalist board.

Led by CEO Dr Heah Sieu Min and COO Dr Chia Kok Hoong, HCSS operates a network of clinics throughout Singapore specialising in endoscopy and general surgical procedures.

The net proceeds of $6.15 million raised from the IPO will be used for the expansion of the group’s business operations locally and regionally; for the expansion of the group’s surgical facilities; and for general working capital purposes.

On the regional front, HCSS plans to bring its medical services into Vietnam, where it has entered into a non-binding memorandum of understanding with the Transport Hospital in Hanoi to provide consultancy and training services.

“The group will continue to expand our network of clinics and extend our capabilities, in line with our vision to develop an organisation dedicated to reaching out to the broadest consumer base possible,” says Dr Heah.

HCSS intends to distribute at least 70% of profit after tax as dividends for FY2017, FY2018 and FY2019.

Trading of HCSS shares is expected to start at 9am on Nov 3.
 
jmapsmylife

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Not sure if will huat a not. But no buy sure no huat. Buy got chance huat. At most hold till die:s31:
 
Perisher

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Source: http://www.btinvest.com.sg/markets/news/145208.html?source=si_news

“Placement Agreement” : The placement agreement dated 25 October 2016 entered
into between our Company and the Placement Agent pursuant
to which the Placement Agent shall procure subscribers for
the Placement Shares at the Placement Price as described in
the sections entitled “Plan of Distribution” and “General and
Statutory Information – Management and Placement
Arrangements” of this Offer Document
“Placement Price” : S$0.27 for each Placement Share
“Placement Shares” : The 30,000,000 new Shares which are the subject of the
Placement
“Pre-Placement Investors” : Jessica Ong Boon Chin, Jessie Low Mui Choo, Ng Aik Hong,
Leo Ting Ping Ronald, Tan Lee Meng and Yeo Khee Seng
Benny

Trading in the company's shares on Catalist is expected to start at 9am on Nov 3, 2016.
 
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Pocoyoz

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Shares offered at 27 cents each via placement ahead of Catalist listing
Marissa Lee
A group of surgeons offering procedures such as colonoscopies and gastroscopies in heartland locations has launched an initial public offering (IPO) ahead of a listing on the Singapore Exchange's Catalist board.

HC Surgical Specialists is offering 30 million new shares at 27 cents a share via a placement that aims to raise around $6.15 million in net proceeds. There is no public tranche, but members of the public can apply for shares via their brokers.

The placement will close at noon next Tuesday, and trading is expected to commence next Thursday. At 27 cents a share and a post-IPO share capital of 146 million, HC Surgical Specialists will have a $39.5 million market capitalisation upon listing.


Of the funds raised, $2.8 million will go towards expanding business operations locally and regionally, $1.2 million will be used to buy new equipment and for renovations, and $2.15 million is earmarked for working capital.

The private practice is led by chief executive Heah Sieu Min and chief operating officer Chia Kok Hoong, who are both surgeons, and comprises 10 clinics following a series of acquisitions over the last year.

On July 18, HC Surgical Specialists acquired a 51 per cent stake in Lai Bec and entered into an employment contract with Dr Lai Jiunn Herng, an expert in robotics-assisted colorectal resections for cancer. He will start contributing to the group from November.

On Aug 4, the group bought CTK Tan Surgery from Dr Charles Tan. CTK has a clinic at both Mount Elizabeth Novena and Gleneagles Hospitals. Dr Tan, who is trained in minimally-invasive thyroid and hernia surgery, started contributing to the group in September.

Two general practitioners have also been brought into the group this year.

Dr Heah said he will eventually acquire more doctors trained in the sub-specialities of breast surgery, liver surgery and stomach surgery.

Including doctors, HC Surgical Specialists has 29 staff.

Revenue in the 12 months to May 31 jumped 15 per cent from a year earlier to $7.9 million due to a rise in procedures undertaken. The revenue figures reflect only contributions from Dr Heah and Dr Chia.

The group posted a net profit of $2.7 million in the year ended May 31, down from a net profit of $3.3 million in the 2015 financial year as expenses rose from $3.5 million to $5 million over the period. This was due mainly to an increase in employee benefits, other expenses, finance costs and a share of associate losses.

Dr Heah said the company signed a non-binding agreement with T&T Group in January for rights to perform all endoscopy and day surgery at the Transport Hospital in Hanoi, Vietnam, for a stipulated period, though a timeline is yet to be set for when this will begin.

The group intends to pay out dividends of not less than 70 per cent of its profit after tax to shareholders over the next three years.

PrimePartners Corporate Finance is the issue manager, sponsor and placement agent.

http://www.straitstimes.com/business/surgical-practice-offers-30m-new-shares-in-ipo
 
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