Latham & Watkins, Allen & Gledhill and Clifford Chance have advised on Foundation Healthcare’s SGD242 million (USD187 million) IPO on the Singapore Exchange, with a market capitalisation of SGD1 billion.
The offering drew strong investor interest, with subscriptions and indications of interest reaching around 3.8 times the number of shares available, alongside commitments from 10 cornerstone investors.
Latham & Watkins advised Foundation Healthcare on the listing, with a team led by partner Sharon Lau and counsel Kelly Teoh, along with associate Zheyi Feng. New York partner Aaron Bernstein and associate Grace Jang provded tax advice, while partner Laura Ferrell, counsel Meghan Carey and associate Micaela Lucero Little assisted on regulatory matters.
“Latham was pleased to act as international counsel to the company and selling shareholders on the IPO, drawing on our deep capital markets experience to support Foundation Healthcare and its shareholders on this important milestone,” Lau told Asia Business Law Journal.
Allen & Gledhill acted as legal advisers to Foundation Healthcare and the vendors, which included SeaTown Private Capital Master Fund, Kuik, KCM Investments, Liaw Yit Ming, Lee Hong Huei and Choy Shook Yee. The team comprised partners Tan Tze Gay, head of equity capital markets, Rhys Goh and Wu Zhaoqi.
Clifford Chance advised the joint bookrunners and underwriters – Jefferies, OCBC, UBS, DBS and UOB – on Singapore, US federal securities and New York laws. Partner Jean Thio spearheaded the team with support from counsel Claire Neo, and associates Jun Kai Choo and Adam Fong.
A separate Clifford Chance team, led by Singapore office managing partner Valerie Kong, advised SeaTown Private Capital Master Fund and Foundation Healthcare on corporate advisory matters in relation to the IPO. Kong was supported by counsel Ivan Chan, senior associate Victor Leung and associates Jia De Yam and Yuqian Zhang.
Foundation Healthcare is Singapore’s largest multi-specialty healthcare platform by number of specialists and specialist clinics as of the end of March 2026. The IPO will support the company’s expansion across its specialist medical services, medical centres and healthcare technology businesses.
