Hot stock: Livingstone Health opens above post-consolidation price

SHARES of specialist healthcare group Livingstone Health Holdings opened at S$0.22 on its first day of trading on the Singapore Exchange's (SGX) Catalist board.

As at 3.49pm on Monday, the counter was trading at S$0.22. Some 21.8 million shares changed hands, making it one of the most heavily traded stocks on the Singapore bourse.

Several married deals had taken place by the afternoon trade, where shares were transacted between S$0.20 and S$0.22 apiece, ShareInvestor data showed.

In a press statement on Monday afternoon, Livingstone said its share price of 22.5 Singapore cents as at the midday break represents a 12.5 per cent premium above the price of post-consolidated shares - which were issued at S$0.20 each - as part of the reverse takeover (RTO) of the former Citicode.

Based on the share price of 22 Singapore cents, Livingstone has a market capitalisation of S$69.5 million. This is 68.3 per cent higher than its market cap of S$41.3 million before the RTO took place.

Citicode shareholders had approved the RTO on Jan 22, 2021, which also involved a 500-to-1 consolidation of the share base and a transfer of listing status from SGX's mainboard to the Catalist board.

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Trading in Livingstone shares had been voluntarily suspended since Feb 2 till Monday.

Livingstone Health has 15 doctors practising at 12 medical clinics and one medical spa in Singapore. Its services include aesthetics and wellness, anaesthesiology and pain management, orthopaedic surgery, as well as physiotherapy. Within the region, the company also has a joint venture in Cambodia.