The company's group CEO Abel Ang is a former EDB official and was recently appointed chairman of Republic Polytechnic.
Under Yeo, EDB was instrumental in driving the growth of the broader biomedical industry of Singapore.
According to Bloomberg, deliberations are ongoing and details of the first-time share sale could change. Representatives for Temasek, Advanced MedTech, as well as Goldman Sachs, Morgan Stanley and OCBC which are arranging the IPO, declined to comment.
