Singapore Paincare Holdings says it has been "approached in relation to a possible transaction involving the shares in the company."
Previous announcements by other listed companies using similar wordings have been known to result in privatisation offers from either the controlling shareholders or third parties.
"Shareholders and any other investors should note that there is no certainty or assurance that any specific or definitive transaction will eventually materialise or be carried out as a result of such approach," the company says.
"If and when there is any material development, the company will make an announcement at the appropriate time.
"In the meantime, shareholders of the company are advised to exercise caution when dealing in the shares of the company, pending any definitive announcement(s) from the company," it adds.
Singapore Paincare Holdings, which was listed back in July 2020, is controlled by its CEO Dr Bernard Lee.
See also: ValueMax Group launches three commercial papers on ADDX and SDAX, all priced at 4.3% p.a.
It closed at 9 cents on March 3, up 9.76% for the day but down nearly 60% from its IPO price of 22 cents.
Thus far this year, the Singapore Exchange has seen 5 privatisation offers.
