Singular Health (ASX:SHG) shares arrive on the ASX

Singular Health Group Ltd (ASX: SHG) shares are set to float on the ASX today, following a heavily oversubscribed capital raising.

| More on:
asx share initial public offering or IPO represented by hands holding up sign saying welcome aboard

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Singular Health Group Ltd (ASX: SHG) is set to float on the ASX today, following a heavily oversubscribed capital raising.

Singular Health officially lists on the ASX

Singular Health shares will be officially listed on the ASX today after the company completed a successful initial public offering (IPO).

The IPO, which offered up to 30 million shares to investors at 20 cents per share was heavily oversubscribed. As a result, Singular Health managed to raise around $6 million upon entering official quotation.

It is understood that five institutional investors participated in the capital raising, along with sophisticated and retail investors.

The successful public offering also gives Singular Health a market capitalisation of around $20 million.

According to the company's prospectus, the capital raise will provide Singular Health with financial flexibility for research, development and future growth opportunities.

What does Singular Health do?

Singular Health is an Australian based medical imaging company that operates in the 3D medical imaging and printing industry.

The company develops proprietary software and technology which is designed to improve the collection of medical data to inform better health decisions.

Singular Health generates revenue through two primary streams. Firstly, through the upfront revenue from the sale of hardware and secondly through recurring monthly and annual subscription fees.

The company's Volumetric Rendering Platform technology creates a 3D image viewed in virtual reality using a series of 2D medical images. This technology is used in five of Singular Health's software products which, according to the company, gives it a competitive edge.

Singular Health advises that its technology can be used across a range of medical applications. These include orthodontics, maxillo-facial surgery, oncology, general surgery and orthopaedics.

MedVR is the company's flagship product which is listed on the Australian Register of Therapeutic Goods.

According to Singular Health, MedVR software is currently used by medical practitioners, students, hospitals and universities in various countries including Hong Kong, Singapore, South Africa and Switzerland. 

Foolish takeaway

At the time of writing, Singular Health shares are poised to open the trading day at their IPO price of 20 cents per share. Shares in the company are expected to begin trading on the ASX at 11am AESDT. 

Motley Fool contributor Nikhil Gangaram has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

More on Share Market News

A female broker in a red jacket whispers in the ear of a man who has a surprised look on his face as she explains which two ASX 200 shares should do well in today's volatile climate
Broker Notes

Top brokers name 3 ASX shares to buy today

Here's what brokers are recommending as buys this week.

Read more »

A man holds his hand under his chin as he concentrates on his laptop screen and reads about the ANZ share price
Bank Shares

Westpac stock: Should you buy the 5.5% yield?

Is Westpac an easy buy today for that 5.5% yield?

Read more »

A young woman wearing a blue and white striped t-shirt blows air from her cheeks and looks up and to the side in a sign of disappointment after the ASX shares she owns went down today
Share Fallers

Why Australian Strategic Materials, Boral, Dubber, and Macquarie Technology are falling today

These shares are having a tough hump day. But why?

Read more »

a mine worker holds his phone in one hand and a tablet in the other as he stands in front of heavy machinery at a mine site.
Materials Shares

Is Core Lithium stock a good long-term investment?

Is this lithium dog a buy-the-dip opportunity today?

Read more »

Share Gainers

Why Bank of Queensland, DroneShield, Evolution Mining, and Lynas shares are storming higher today

These ASX shares are having a very strong session on hump day.

Read more »

Man looking concerned head in hands at laptop
Share Market News

Worried about an ASX stock market crash? Here are 5 reasons AMP says the bull market has legs

Despite the potential for a pullback, the ASX bull can keep on running, says AMP.

Read more »

A woman has a thoughtful look on her face as she studies a fan of Australian 20 dollar bills she is holding on one hand while he rest her other hand on her chin in thought.
Dividend Investing

Is Telstra stock a smart buy right now for dividends?

Would I buy Telstra shares for that hefty dividend yield today?

Read more »

Opinions

1 top ASX growth stock to buy that's down 40%

Here’s why I think this stock could fly higher.

Read more »