Singapore Exchange (SGX) today welcomed UG Healthcare Corporation Limited to Catalist under the stock symbol "41A".

UG Healthcare is a manufacturer, processor and distributor of gloves including surgical, vinyl and cleanroom gloves. It also distributes face masks and other disposable medical items. Founded in Negri Sembilan, Malaysia, UG Healthcare has distribution channels in China, Germany, Nigeria, UK and US.

UG Healthcare offered 28.8 million shares at S$0.215 a share. Proceeds of the offer will be used to expand its production capacity and sales and distribution network, and to develop new products.

UG Healthcare shares opened at S$0.25 each today, up 16%.

Ang Beng Teck, CEO, UG Healthcare, said, "Our listing on the Singapore Exchange strengthens UG Healthcare's position to propel our momentum in the international arena as an established disposable glove manufacturer and distributor in the growing hygiene and healthcare industry. We are committed to continue to grow prudently from strength to strength, and seizing opportunities to expand progressively in our product range, manufacturing capabilities and capacity, as well as our global distribution network. We are heartened by the investors' confidence in UG Healthcare's track record and our growth prospects."

Mohamed Nasser Ismail, Head of SME Development & Listings at SGX, said, "We are delighted to have UG Healthcare Corporation join our Catalist board today.  SGX is fully committed to helping small-and mid-sized enterprises to realise their ambitions and grow their companies. We look forward to continuing our support of companies such as UG Healthcare as they plan their expansion and development."

The listing of UG Healthcare brings to 29 the number of healthcare companies listed on SGX so far, with total market value of S$33 billion.  With UG Healthcare's IPO, there are now a total of 154 companies listed on Catalist, with a total of $329.9 million raised on Catalist so far this year, up 30% from the same period in 2013.



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