By Yantoultra Ngui and Jun Yuan Yong

SINGAPORE, Dec 3 (Reuters) – Singapore’s UltraGreen.ai, a medical imaging company focused on fluorescence-guided surgery, surged 8% in its market debut on Wednesday after its IPO raised $400 million in the city-state’s largest non-REIT offering in eight years.

The stock was changing hands at around $1.56 in morning trade, compared to its IPO price of $1.45 and giving UltraGreen.ai a market capitalisation of $1.7 billion. At one point, it rose as much as $1.60. The benchmark Straits Times Index was up 0.3%.

UltraGreen.ai develops fluorescence-guided surgery technology and supplies indocyanine green or ICG dyes. It is also building an AI-powered surgical intelligence platform.

Proceeds from the IPO will help fund development of core products, strategi

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