Ping An Healthcare and Technology Co. Ltd. (Shanghai, China) amended its IPO on the Hong Kong stock exchange and now plans to sell 160 million shares at HK$45.75-HK$54.80. The offering is being underwritten by Citigroup, J.P. Morgan, UBS, Ping An of China Securities, CCB International, CICC, CLSA, CMB International, CMS and HSBC; trading is slated to begin on May 4.
At the midpoint of HK$50.28, the company would raise HK$8 billion ($1 billion) and be valued at HK$53.7 billion ($6.8 billion).
Ping An Healthcare raised $400 million in a pre-IPO financing from SoftBank Vision Fund in December before proposing on Jan. 29 to go public on the Hong Kong stock exchange (see BioCentury Extra, Feb. 1).
The company, also called Ping An Good Doctor, uses its mobile platform to offer online medical and wellness services, including family doctor services, consumer healthcare services and health management.