UltraGreen.ai Considers S$400 Million Singapore IPO to Boost Growth

UltraGreen.ai, a Singapore-based company specializing in surgical imaging medical use and fluorescence technology, is reportedly considering an initial public offering (IPO) to raise up to S$400 million (US$298 million). Sources indicate that the company is in discussions with financial advisers about planning the listing.

The IPO, which could take place as early as this year, is still in the planning stages, with the final fundraising amount expected to be between S$300 million and S$400 million. As deliberations remain private, further details on the offering structure and timeline are yet to be finalized.

Discussions regarding UltraGreen.ai’s IPO are still ongoing, and key details, including the final offering size and timing, may change, according to sources. The company has not responded to requests for comment on the matter.

If the IPO moves forward, it would be a notable listing in Singapore, which has yet to see any IPOs this year. However, reports suggest that France’s Praemia REIM and Japan’s Nippon Telegraph & Telephone are considering listing real estate investment trusts (REITs) in the city-state.

UltraGreen.ai’s potential listing could help boost Singapore’s IPO market, which has remained subdued in recent years. Analysts will be watching closely to see if this offering can attract more investor interest to the exchange.

According to Bloomberg data, in 2024, Singapore saw four IPOs that collectively raised $34.4 million. The largest was the listing of the Singapore Institute of Advanced Medicine Holdings, which secured about $19.5 million.

UltraGreen.ai serves major healthcare institutions, including Adventist Health, Cleveland Clinic, and Mayo Clinic, as listed on its website. The company’s fluorescence technology is used in medical and surgical imaging, supporting advanced healthcare solutions.