On Wednesday, Singapore-based iWOW Technology Limited declared that it had successfully placed 66.67 million new ordinary shares at a placement price of S$0.225 ($0.17) per placement share, generating over S$15 million in gross proceeds.
According to a statement from the company, the placement boosts the organization’s balance sheet after acquiring The Gentle organization and gives the group the money it needs to accelerate its next stage of expansion.
Amova Asset Management, Areca Capital Sdn Bhd, Asdew Acquisitions, Avanda Investment Management Pte. Ltd. (on behalf of specific investment funds and/or managed accounts), Azure Capital, Ginko-AGT Global Growth Fund, ICH Synergrowth Fund, Lion Global Investors Ltd. (as investment manager for and on behalf of its clients), Tokio Marine Life Insurance Singapore Pte. Ltd., UOB Asset Management Ltd., and Value Partners Hong Kong Limited are among the institutional investors.
Alongside strategic investors in healthcare, such as doctor Lim Cheok Peng, who served as IHH Healthcare’s managing director from 2011 to 2013.
The strong interest from institutional and strategic investors underscores their confidence in the group’s growth strategy, and validates its plans to accelerate expansion across its AgeTech, Clinical Nutrition and internet of things (IoT) businesses, said the statement.
It noted participation by EQDP fund managers will broaden and deepen the Company’s institutional shareholder base and is expected to support greater market visibility, trading liquidity and market depth over time.
As populations age across Asia and other developed markets, iWOW said it is building an integrated longevity platform centered on three complementary pillars: safety; sustenance and social connection.
The firm said the Buddy of Parents (BOP) provides AI-powered monitoring, emergency response and fall detection, enabling seniors to live independently with greater confidence.
Following the acquisition of The Gentle Group (TGG), iWOW offers clinically formulated therapeutic nutrition for seniors managing dysphagia, diabetes, kidney disease and other age-related conditions.
Through its collaboration with GetSetUp, iWOW also helps older adults stay socially connected, digitally engaged and lifelong learners.
Together, these businesses form a differentiated ecosystem addressing the physical, nutritional and social needs of ageing populations, while strengthening long-term customer engagement, said the statement.
