[SINGAPORE] Shares of Foundation Healthcare has jumped around 16 per cent since the start of the week, with stabilisation manager UBS making multiple share purchases.
The counter rose as much as 7.8 per cent on Thursday (Jul 23), to as high as S$0.825 in the first 16 minutes of trading, adding S$0.06 from its closing price on Wednesday.
They began to climb from Wednesday, adding more than 15 per cent, after UBS bought about 19.5 million shares across eight stabilisation trades from Jul 8 to Jul 22.
The trades include about 10.9 million shares purchased between S$0.70 and S$0.76, a further 4.5 million shares bought for between S$0.705 and S$0.735, and two million shares purchased between S$0.73 and S$0.76.
The multi-speciality healthcare group debuted on the Singapore Exchange mainboard on Jul 8. Its initial public offering was 3.8 times subscribed, but its shares ended the first trading day at S$0.70 – 7.9 per cent below the IPO price of S$0.76.
Singapore’s IPO market is emerging from a drop in offering activity in the past few years, with five listings this year having raised about S$1.1 billion in the first six months. This was up from just a single IPO for the same period in 2024 and 2025.
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The 2026 listings so far have included real estate investment trusts, technology and event management companies. Three more listings are expected to follow Foundation Healthcare’s IPO.
Market observers noted that the rebound on the Singapore bourse reflects strong investor confidence, policy support and a broader pipeline of issuers, but warned that geopolitical volatility and economic uncertainty are still risks.
