Healthway Med shares opens 33 pct lower in Singapore

SINGAPORE, July 4 (Reuters) - Shares in Singapore healthcare firm Healthway Medical Corporation opened 33 percent below their initial public offering (IPO) price of S$0.36 at the start of trade in Singapore on Friday.

By 0101 GMT, the stock was trading at S$0.26, or 28 percent below its IPO price.
The firm, which raised S$48.8 million ($35.8 million), plans to use the proceeds to repay loans and fund its overseas expansion.

PrimePartners Corporate Finance was the underwriter, issue and placement manager for the offer -- the first on Singapore's Catalist board for smaller, fast-growing firms.

(Reporting by Charmian Kok; editing by Kevin Lim) ((charmian.kok@thomsonreuters.com; Reuters Messaging; charmian.kok.reuters.com@reuters.net; +65 6403 5667)) ($1=1.362 Singapore Dollar)