Stock Track | Foundation Health Plummet 3.29% in Intraday Trading on Muted Market Debut

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Foundation Health's stock plummeted 3.29% during intraday trading on Wednesday, following its debut on the Singapore Exchange Main Board.

The Temasek-backed private healthcare operator made a muted trading debut, with shares initially rising as much as 1.3% before falling below its initial public offering price of S$0.76. The company raised approximately SG$242 million in its IPO, which was about 3.8 times subscribed overall.

The stock's decline reflects investor caution despite the company's successful fundraising and backing from state investment firm Temasek's SeaTown, as new listings begin to pick up in Singapore's equity market.

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