ISEC Healthcare Ltd ("ISEC" or the "Company") is offering 70m placement shares at 28c each for a listing on Catalist. The IPO will close on 23 Oct and list on 28 Oct. There is no public tranche. The market cap based on the IPO price will be around $128.38m.
The Company is a medical eye care provider with ambulatory surgical centres in Malaysia and Singapore. Actually the term sheet is pretty comprehensive, you can access it here.
Business
ISEC will use the IPO proceeds mainly for expansion into the Asia Pac region.
Financial Highlights
The EPS for FY2013 after adjusting for the enlarged share capital and service agreement will be around Singapore 1.22 cents and that translate into a listing PER of around 22.9x, which is fairly valued.
Q1 2014 continued to show a strong growth over the prior quarter with profit reaching around 1.8m ...
