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Fullerton Healthcare IPO: Valuation Implies that the Whole Is 3-4x Larger than the Sum-Of-The-Parts

Founder

Kemp Dolliver, CFA

Cherrystone Hill Research

Equity Capital Markets

Fullerton Healthcare / Equity Capital Markets

<p>Fullerton Healthcare has pulled its planned listing in light of pending changes in the regulatory environment in Singapore.  We think that the company and contracted providers can make appropriate adjustments to their agreements to comply with these rules. This process likely will take at least several months as all parties will require additonal clarity from the government before proceeding.</p><h2>Key Points:</h2><ul><li>As mentioned in Fullerton's listing document, the SMC's updated Ethical Code and Ethical…</li></ul>

Fullerton Healthcare has pulled its planned listing in light of pending changes in the regulatory environment in Singapore.  We think that the company and contracted providers can make appropriate adjustments to their agreements to comply with these rules. This process likely will take at least several months as all parties will require additonal clarity from the government before proceeding.Key Points:As mentioned in Fullerton's listing document, the SMC's updated Ethical Code and Ethical…

Fullerton Healthcare

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