Xunfei Healthcare Technology (HKG:2506) launched its initial public offering in Hong Kong, seeking to raise as much as HK$582.5 million.
The AI-empowered healthcare solutions provider is offering up to 7,035,550 H shares at an indicative price of HK$82.8 apiece, according to a Wednesday filing with the Hong Kong bourse.
Xunfei Healthcare Technology secured Star Group, Honour Goal, Hengqin Investment Fund, Xunyi, and Costone China Growth as cornerstone investors, who committed to subscribe for about $35.6 million of IPO shares.
The issuer expects to disclose the allocations on Dec. 27. It will then start trading on the Hong Kong bourse on Dec. 30.
Proceeds from the deal will be used for further research and development, further improvement of the product, commercialization and service network enhancement, working capital, and general corporate purposes.
Huatai International, GF Securities (Hong Kong), CCB International, ICBC, SPDB International, and several others are the joint bookrunners of the IPO.
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