Singapore Paincare Holdings offering 24.25m placement shares at S$0.22 each

Singapore

SINGAPORE Paincare Holdings, which has lodged its initial public offer (IPO) prospectus on Monday, aims to provide more relief options, including minimally invasive procedures, to those suffering from chronic pain. (see amendment note)

Founded by Bernard Lee, one of Singapore's pioneer interventional pain specialists, Singapore Paincare is offering 24.25 million shares to be placed at 22 Singapore cents each for listing on the Catalist board of the Singapore Exchange (SGX), valuing the company at S$35.6 million.

At S$0.22 a share, the offer is substantially higher than the group's unaudited net asset value…

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