Fullerton Health aborts IPO plan

Management cites market volatility as a key reason.

Fullerton Health announces that it is deferring plans for an Initial Public Offering (IPO) in 2016.

In light of current market uncertainty, Fullerton Health has decided against proceeding with the proposed IPO, despite significant interest from high-quality international investors during the book-build, which was heavily over-subscribed.

The company will continue to re-assess equity capital markets options in 2017, subject to market and other conditions at the time.

Fullerton Health expects continued strong organic growth and double digit year-on-year increases in both revenues and operating profit for 2016, and will continue to target certain acquisitions, funded from the company’s strong balance sheet and existing cash flows.

Without any immediate need to access the equity capital markets to fund its growth plans, the company will meanwhile continue to assess the various options available which will provide the flexibility to pursue any more significant acquisition opportunities that may arise.

- See more at: https://sbr.com.sg/healthcare/news/fullerton-health-aborts-ipo-plan#sthash.FpZcwQQj.dpuf