Tongrentangcare relaunches HK IPO at HKD5.48-HKD6.21 per share

Tongrentangcare (02667.HK) relaunched its Hong Kong initial public offering, seeking to raise as much as HKD670.7 million ($85.8 million) from the sale of about 108 million H shares.

"The relaunch comes after the company previously shelved its listing plans amid volatile market conditions," a person familiar with the matter said.

The offer price ranges from HKD5.48 to HKD6.21 per share, with a board lot of 500 shares requiring an entry fee of approximately HKD3,136.31. The Hong Kong public tranche accounts for 10% of the total offering, while the international placing covers the remaining 90%.

At the midpoint of HKD5.85, the Beijing-based traditional Chinese medicine unit expects net proceeds of about HKD562.4 million. China International Capital Corp. is acting as the sole sponsor for the listing. The subscription period runs from June 26 to July 2, with trading expected to commence on July 7.

The pricing gives Tongrentangcare an implied market value of roughly HKD6.3 billion to HKD7.2 billion at the offer range, based on the total share capital after listing. The company did not disclose cornerstone investors, the use of proceeds breakdown, or valuation metrics versus listed peers. Investors will watch first-day trading on July 7 to gauge institutional demand for the traditional Chinese medicine sector in Hong Kong's primary market.

This article is for informational purposes only and does not constitute investment advice.