Regenique Group Ltd

Regenique Group Ltd IPO - Investor Guide

Hey there! Thinking about Regenique’s IPO? Here’s what you need to know, minus the jargon:

1. What Does Regenique Do?

Regenique blends medical science with luxury aesthetics. Since 2009, they’ve operated 5 Singapore clinics offering:

• Bio-regenerative treatments: Lab-grown cell therapies for aging/skin repair (think "sci-fi skincare")
• Medi-aesthetics: Mainstream beauty services like laser therapy or fillers
  They’ve served 300,000+ customers over 16 years. Recently, they’ve shifted focus toward beauty clinics, calling themselves a “science-meets-spa” chain.

What’s new?
🔬 Teams of scientists + marketers
💉 Beta-testing experimental beauty tech
🏥 Clinics placed like Starbucks – convenient for quick treatments

2. Financial Snapshot

Profitable, but growth is uneven:

• 2023 Profit: S$2.78M
• 2024 Profit: S$3.14M
• 2025 Growth: S$2.09M profit in just 9 months (vs S$1.36M same period 2024)

The good:
✅ 80% gross margins (Louis Vuitton-level markups)
✅ Revenue grew 11% (S$14.2M in 2022 → S$15.8M in 2023)

The concerning:
⚠️ Flat profits in 2022-2023 despite revenue growth
⚠️ Cash flow dropped 71% early 2025 (S$730k vs S$2.49M in 2024)
⚠️ Spent S$3.49M on new equipment in 2024 (like buying 3 luxury condos in cash)

Note: The company hasn’t shared how many customers pay for premium (bio-regenerative) vs basic treatments.

3. IPO Fund Use

Raising $6M at $4/share, but keeping $5.6M after fees. Money will go to:

• 50%: New clinics & partnerships in Asia (goal: own 51%+ of a clinic chain within 6-18 months)
• 20%: Buying competitors/suppliers
• 10%: Marketing blitzes
• 20%: Daily costs (rent, salaries)

4. Key Risks

• Cash Crunch: Operating cash dropped 71% in early 2025. IPO money might not last.
• You’re Buying a Shell: Shares own the Cayman Islands parent, NOT the Singapore clinics. Dividends depend on clinics sending money offshore – lenders could block this.
• Founders Rule Forever: Insider shares get 15 votes each vs your 1 vote.
• Expansion Gamble: 50% of IPO cash goes to unproven clinics, despite burning S$3.49M on equipment last year.
• Share Dilution Alert: 400 million shares authorized (only 40M issued). They could flood the market, shrinking your stake.
• Legal Gray Zones:
  • Stem cell treatments face uncertain regulations (laws could change overnight)
  • Trademarks are pending – might need to rebrand suddenly
  • Staff aren’t fully trained on fair sales laws, risking fines or closures
• Tech Treadmill: Must constantly spend on new gadgets (like Rejuran skin tech) to keep customers.
• Doctor Defections: “No compete” clauses may not hold – top staff could leave and take clients.

5. Competitive Edge

• 80% margins (Chanel-level pricing power)
• Mixes quick beauty fixes with cutting-edge science
• Positioned as the “Apple Store of aesthetics” – sleek, convenient, premium

6. Should You Invest?

Pros:
✅ Profitable with luxury margins
✅ 16-year track record, 300k+ customers

Cons:
❌ Shrinking cash flow
❌ Cayman shell structure complicates ownership
❌ Founders paid $0.025/share in 2025 (160x cheaper than IPO price)
❌ Relies on rented tech and pending trademarks

Final Thought:
This IPO is like a high-end skincare serum – could glow up your portfolio or cause irritation. The company provided limited details on clinical trial success rates and customer loyalty, which adds uncertainty.

Not financial advice. Do your own research – maybe skip the latte tomorrow and read their full filing instead! 😉