Welcome to this week’s edition of top stock market highlights.
This week, we turn our attention to a fresh healthcare listing on the horizon, a major REIT divestment that reshapes a trust’s portfolio, a CEO succession at a local telco, an airport hotel sale that brings a special payout for unitholders, and a developer’s move to lighten its balance sheet through a sizeable hospitality restructuring.
Healthcare, REITs and property feature prominently as companies eye the public markets and recycle capital.
Private Healthcare Group Plans Singapore Mainboard Listing
Foundation Healthcare Holdings lodged a preliminary prospectus on Monday, 22 June 2026, for a mainboard listing on the Singapore Exchange.
The private healthcare provider, which operates 74 specialist clinics across 16 medical specialities in Singapore, is backed by Temasek’s investment firm SeaTown Holdings.
The offer comprises an international placement alongside a Singapore public offer, though the offer size, price and listing date were not disclosed.
Ahead of the launch, the group secured S$118.2 million in commitments from 10 cornerstone investors, including Lion Global Investors, Manulife Investment Management (Singapore) and the International Finance Corporation.
Sources earlier indicated the group is seeking to raise as much as S$500 million, potentially valuing it at over US$1 billion.
Founded in 2023, Foundation Healthcare also operates four medical centres and is eyeing regional expansion into Malaysia and Hong Kong.
Net proceeds will fund clinic acquisitions and overseas expansion.
Healthcare Trust Sells Entire Indonesia Portfolio for Capital Recycling
First REIT (SGX: AW9U), Singapore’s first listed healthcare REIT, has proposed divesting its entire Indonesia portfolio for around S$471.5 million, a 2.1% premium over the average of two independent valuations.
Eight hospitals will be sold to long-term tenant PT Siloam International Hospitals for roughly S$389.2 million, with three non-core assets going to PT Lippo Karawaci and an affiliate for a combined S$82.4 million.
The transaction was put to unitholders at an extraordinary general meeting on 23 June 2026, with sponsors OUE Ltd (SGX: LJ3) and OUE Healthcare abstaining.
On a pro-forma basis, aggregate leverage would fall sharply from 42.1% to 16.7%, yielding annual interest savings of around S$18.8 million.
Unitholders are also slated to receive a S$9.7 million special distribution, equal to the premium over appraised value.
The move repositions the trust towards developed markets such as Singapore and Japan, reducing its exposure to rupiah volatility.
