Shares in Livingstone Health Holdings closed at 22.5 cents, representing a 12.5% premium above the 20 cents that was priced in for its post-consolidation shares on Feb 8.

The shares were issued as part of the reverse merger of the former Citicode.

The listing is the first on SGX for 2021, and marks a new chapter of the Singapore-based multidisciplinary healthcare specialist.

Shareholders in Citicode approved the reverse takeover (RTO) on Jan 22, which involved a 500-to-1 consolidation of the share base from 41.3 billion to 82.6 million shares, and a transfer of listing status to the Catalist board from the Mainboard.

SEE:Citicode shareholders approve RTO of Livingstone Health, trading suspension to begin Feb 2

Upon completion of the RTO, Livingstone’s share base has been enlarged to 315.9 million shares from 82.6 million shares.

Dr Wilson Tay, executive director and CEO of Livingstone Health, says: “The completion of the RTO and the first-day trading mark a major new chapter in the growth of the Group. We intend to leverage on our capital markets platform to accelerate growth and deepen our value proposition as an integrated healthcare provider in Singapore and the region.”

“On behalf of the board of directors I thank SGX, the management team, the professionals, the shareholders and the many people whose hard work, patience and support have culminated in today’s first-day trading on Catalist,” he adds.

Mohamed Nasser Ismail, Global Head of Equity Capital Markets, SGX, says: “We are pleased to welcome the listing of homegrown Livingstone Health Holdings Limited on SGX Catalist. With Singapore’s healthcare industry recognised as among the best in the world, together with SGX’s connectivity in the region, we look forward to supporting Livingstone Health in its efforts to tap on the rising growth opportunities in Asia.”