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Capitol Health IPO

CAPITOL Health Ltd hopes to raise funds to acquire a number of dental surgeries across Australia before listing on the Australian Stock Exchange next month. The Perth-based company says its initial public offer is expected to raise $1.8 million through the sale of nine million ordinary shares at 20 cents each. Managing director Andrew Harrison says the offer will open on Thursday May 25, ahead of a planned listing in mid-June. Capitol Health, which provides surgical facilities and administrative management technology and support services to dentists, will use the funds to acquire between six and 12 surgeries in the next 10 months. “While most of our early acquisitions will be in Perth, we’re also looking to expand into the east coast market,” Mr Harrison said in a statement. He said Australia’s $2.4 billion dental sector would benefit from consolidation. But the company would make sure dental surgeries maintain individual style, he said.

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