DFIN Supported Singapore’s Largest IPO in Eight Years: UltraGreen.ai Lists on SGX

Congratulations to our IPO client, UltraGreen.ai, on their successful listing on the Singapore Exchange Mainboard (SGX: ULG) on 3 December 2025, marking the largest non-REIT IPO in Singapore in the past eight years.

• Offering Size: ~112.1 million shares
• Offer Price: US$1.45 per share
• Funds Raised: ~US$400 million
• Joint Bookrunners & Global Coordinators: Citigroup Global Markets Singapore Pte. Ltd. and DBS Bank Ltd.

About UltraGreen.ai

UltraGreen.ai is a global leader in fluorescence-guided surgery (FGS), pioneering AI-driven imaging solutions to enhance surgical precision and improve patient outcomes. Its ecosystem includes the ICG and IC-Flow™ imaging system, as well as development-stage innovations such as PerfusionWorks and the UltraGreen Data Platform.

DFIN End-to-End IPO Solutions

Navigating the complexities of a major IPO requires more than just expertise—it demands agility, compliance, and speed of execution. As a trusted partner to UltraGreen.ai during Singapore’s largest IPO in recent years, DFIN delivered a comprehensive suite of solutions designed for high-stakes capital market transactions.

• Round-the-Clock Dedicated Support: Our seasoned team provided 24/7 expert guidance at every stage of the IPO process, ensuring seamless coordination and addressing challenges in real time.
• Seamless Document Management: Leveraging our end-to-end financial printing solutions, DFIN delivered efficient turnaround across every proof cycle, ensured secured distribution of prospectuses and related media publications. This streamlined workflow supported UltraGreen.ai in meeting their targeted MAS lodgement and SGX registration timelines.

From initial planning to public listing, DFIN’s commitment to excellence and innovation ensures that our clients are always prepared to capitalise on market opportunities. That’s why organizations around the world continue to rely on DFIN as their partner of choice for capital markets transactions—where speed, accuracy, and trust matter most. Discover how DFIN’s IPO solutions and Venue Virtual Data Room can empower your next milestone, or get in touch today for further information.