Temasek's Advanced MedTech chooses a Singapore IPO over a US IPO

According to sources, Temasek Holdings Pte-backed medical equipment manufacturer Advanced MedTech Holdings Pte has opted to list in Singapore rather than the US.

According to the sources, the company has chosen Morgan Stanley, Goldman Sachs Group Inc., and Overseas Chinese Banking Corp. to assist with its upcoming IPO, which might raise between $200 million and $300 million. According to them, the company might be valued at nearly $1 billion through a listing in the city-state as soon as this year's end.

After a planned sale by Temasek fell through, the Singapore-based manufacturer of medical devices thought about going public in the US earlier this year, according to a March story by reporters.

The people, who asked not to be identified because the process is confidential, said that discussions are still ongoing and that the first-time share sale's specifics might alter. Advanced MedTech, Morgan Stanley, Goldman Sachs, OCBC, and Temasek representatives all declined to comment.

The initial public offering by Advanced MedTech would aid the stagnant IPO market in Singapore, which is expected to have its worst year since at least 2011. According to information gathered by Bloomberg, the exchange has only seen three new listings this year, raising a total of $18.6 million. In comparison, $348 million was spent over the same period last year.

According to its website, Temasek Holdings Pte. Ltd., a state-owned company in Singapore, supports Advanced MedTech in the production of medical equipment with an emphasis on urological devices and contract manufacturing services. Patients in more than 100 countries can purchase its products.