Zhuhai Blue Ocean Aims to Raise USD1 billion in Hong Kong IPO
13-May-15, Market Watch
Chinese hospital-investment firm Zhuhai Blue Ocean Strategy Medical Co plans to raise about USD1 bn in a Hong Kong initial public offering in the third quarter, making it the latest company to tap into rising demand for better health care among China’s growing middle class.
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Image: Reuters
The Guangdong province-based hospital operator and investor plans to submit an application for listing approval to Hong Kong’s stock exchange in June. In Hong Kong, companies that want to list need to get approval from the city’s stock exchange before going public. If it lists this year, it will add to the billions of dollars expected to be raised in Hong Kong IPOs this year by Chinese companies, including brokerage HTSC and Chinese conglomerate Legend Holdings Corp.
Founded in 2010, the private company provides hospital management services and has formed business partnerships with over 300 hospitals across 200 cities including Beijing, Guangdong and Chongqing.