Singular Health (ASX:SHG) share price rockets 100% higher following IPO

The Singular Health Group Ltd (ASX: SHG) share price is having an exceptionally strong first day as a listed company.

At one stage today, the 3D medical imaging company’s shares were up 102.5% from its listing price to 40.5 cents.

The Singular Health share price has retreated slightly but remains up 87.5% to 37.5 cents at the time of writing.

The Singular Health IPO

Singular Health shares landed on the ASX boards today after completing an oversubscribed initial public offering (IPO) which raised $6 million at 20 cents per share.

According to its prospectus, the proceeds will be used to execute its growth strategy, fund research and development, working capital purposes, and for the purchase of a titanium 3D printer.

What is…