Chinese Online Healthcare Platform Plans to Raise Billions

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Stocks and interesting details

China’s healthcare platforms gained popularity in 2020. Importantly, JD Health International Inc, is a major Chinese online healthcare platform. As a reminder, JD Health is a unit of Chinese e-commerce giant JD.com. Interestingly, this healthcare platform is looking to raise more than $3 billion in its Hong Kong debut. However, before discussing the plans of JD Health, let’s have a look at the stocks in Asia-Pacific. 

 

It is worth mentioning that stocks in Asia-Pacific struggled for direction on November 26. Notably, investors reacted to minutes released on Wednesday from the U.S. Federal Reserve’s November meeting. 

 

People should take into account that the mainland Chinese stocks were mixed on the day. The Shanghai Composite added 0.22% to about 3,369.73. At the same time, the Shenzhen Component dropped 0.411% to around 13,599.99. 

 

However, Hong Kong’s Hang Seng index ended its trading day 0.56% higher at 26,819.45.  

 

In Japan, the Nikkei 225 gained 0.91% to 26,537.31. Also, the Topix index advanced 0.6% to 1,778.25 and South Korea’s Kospi index added 0.94% to finish its trading day at 2,625.91. 

Australia’s S&P/ASX 200 fell 0.7% to close at 6,636.40.

 

Chinese online healthcare platform and initial public offering 

Let’s get back to a major Chinese online healthcare platform. It is worth mentioning that a major healthcare platform is planning to sell 381.9 million shares at a range of 62.80 to 70.58 Hong Kong dollars ($8.10-$9.11), according to a filing with the Hong Kong stock exchange. Moreover, the exercise of an over-allotment option to sell more stock could also bring the size of the IPO up to about $4 billion. 

 

Based on the information taken from its draft prospectus, it is the largest platform in China when it comes to revenue, logging $1.6 billion in 2019. Importantly, this platform had 72.5 million annual active users as of June 30 compared to 53.5 million at the same time last year. 

 

This is not the end of the story, as it is also China’s largest online retail pharmacy with a 29.8% market share. Interestingly, JD Health looks set to be Hong Kong’s biggest IPO of 2020. Notably, shares of JD.com in Hong Kong advanced 0.82% on Thursday. 

 

As a reminder, Ant Group’s highly-anticipated initial public offering in Shanghai and Hong Kong was abruptly suspended earlier this month. Importantly, the Shanghai and Hong Kong stock exchanges made the announcement on November 3. JD Health is a major online healthcare platform and it has the chance to raise more than $3 billion. 

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