Singapore Institute of Advanced Medicine Holdings Completes Major Share Issuance and Debt Conversion: What Investors Need to Know

Key Developments That Could Impact Shareholders and Share Price

• Completion of Strategic Transactions: The Company has completed two significant transactions – the conversion of a large loan from Caterine Limited into equity, and a new share placement to institutional investors at S\$0.035 per share.
• Massive Increase in Share Capital: A total of 169,474,000 new ordinary shares were issued, increasing the Company’s share base by approximately 16%.
• Debt-to-Equity Conversion: 149,726,000 shares were issued to Caterine Limited as part of a debt conversion agreement, reducing the Company’s leverage and improving its balance sheet.
• New Institutional Investors: 19,748,000 shares were placed with multiple prominent funds and institutional investors, strengthening the Company’s shareholder base and potentially increasing market confidence.
• Listing and Trading Timeline: The new shares will be listed and quoted on the SGX Catalist board on or around 17 October 2025, with trading commencing at 9:00 a.m. on the same day.
• Share Base Expansion: Total shares outstanding will rise from 1,062,020,642 to 1,231,494,642 following these transactions.
• Dividend Rights: Newly issued shares will not be entitled to dividends or rights distributions with a record date on or before their issue date.

Details of the Transactions

1. Conversion of Loan from Caterine Limited

The Company has converted a loan from Caterine Limited into equity, issuing 149,726,000 new ordinary shares. This move is significant, as it not only reduces the Company’s debt burden but also signals Caterine Limited’s confidence in the Company’s future prospects. The conversion was executed based on previously agreed terms, and the shares will be credited in scripless form around 16 October 2025.

2. Placement of New Shares at S\$0.035 Each

An additional 19,748,000 new ordinary shares have been placed with a range of institutional investors at a price of S\$0.035 per share. The placement is split among three agreements (PSG, PMY, and PIAM), involving reputable funds such as PHEIM ASEAN All-Cap Equity Fund, Dana Makmur PHEIM, German-Malaysian Institute, and others. The largest single subscriber in the placement is Dana Makmur PHEIM, taking up 8,771,000 shares. The full breakdown of institutional investors is as follows:

• PSG Agreement: PHEIM ASEAN All-Cap Equity Fund, PHEIM VCC – PHEIM Emerging Asia Ex-Japan Balanced Fund (6,213,000 shares total)
• PMY Agreement: Thong Thye Chiang Sdn Bhd, Thong Thye Chiang Realty Sdn Bhd, Dana Makmur PHEIM, Benta Wawasan Sdn Bhd, German-Malaysian Institute, PHEIM Asia Ex-Japan Fund, PHEIM Asia Ex-Japan Islamic Fund, Saham Sabah Bhd, PHEIM Emerging Companies Balanced Fund (13,248,000 shares total)
• PIAM Agreement: PHEIM Global ESG Islamic Fund, PHEIM ASEAN Islamic Fund (287,000 shares total)

Potential Impact on Shareholders and Share Price

• Dilution Effect: The issuance of 169,474,000 new shares will dilute existing shareholders’ stakes by about 13.8%. This could put downward pressure on the share price in the short term.
• Balance Sheet Improvement: With a major loan converted into equity, the Company’s leverage is reduced, which may be viewed positively by investors seeking financial stability.
• Institutional Confidence: The successful placement to reputable funds could enhance market confidence and attract further institutional interest.
• Potential for Increased Liquidity: The enlarged share base and involvement of new institutional shareholders may boost the stock’s trading liquidity.
• Dividend Rights: Note that the new shares will not participate in any dividends or distributions with a record date before their issuance, which may affect short-term dividend yield calculations for new shareholders.

Important Dates for Investors

• Shares Credited: On or around 16 October 2025
• Shares Listed and Trading Commences: On or around 17 October 2025, 9:00 a.m.

Other Notable Points

• The Company was listed on the Catalist board of SGX-ST on 16 February 2024 and is sponsored by PrimePartners Corporate Finance Pte. Ltd.
• This announcement has been reviewed, but not approved, by the SGX-ST, which assumes no responsibility for its contents.

Conclusion: A Transformative Move for Singapore Institute of Advanced Medicine Holdings

The completion of these transactions marks a major milestone for Singapore Institute of Advanced Medicine Holdings Ltd. The conversion of debt to equity strengthens the balance sheet, while the successful placement to institutional investors signals market confidence. However, the substantial increase in share capital also means existing shareholders will face dilution. Investors should monitor the Company’s performance and trading activity as the new shares begin trading, as these developments could result in increased volatility and potentially significant share price movements.

Disclaimer: This article is for informational purposes only and does not constitute investment advice or a recommendation. Investors should conduct their own due diligence and consult with their financial advisors before making investment decisions. The information is based on publicly available documents as of 15 October 2025 and may be subject to change.

View SAM Holdings Historical chart here