QT Vascular IPO seems hardly attractive. It's a loss-making company after all. Anyway, the investing public will not be able their hands on them the offering is by way of placement only.
MEDICAL device-maker QT Vascular priced its initial public offering (IPO) on Catalist at 28 Singapore cents per share to raise S$55 million for product development and working capital.From Business Times, "QT Vascular IPO values medical device-maker at S$212m".
The deal will value the loss-making company at S$211.6 million upon listing.
The all-new share offering will raise net proceeds of S$50.3 million for QT, which specialises in balloon catheters. Of that amount, $30.3 million will be used for general working capital, $15 million for developing products, and $5 million for commercial expansion.
The issue price is seven times the company's net tangible asset (NTA) of 4 cents per share before listing, and 2.9 times post-dilution NTA of 9.6 cents per share.