Ping An Good Doctor, a Chinese healthcare app backed by Ping An Insurance (2318.HK), is planning to raise approximately USD1 billion via a initial public offering on the Hong Kong stock exchange in the first half of next year, the South China Morning Postreported citing sources familiar with the matter.
Five of the 10 biggest IPOs to have taken place in Hong Kong this year have involved mainland tech and internet companies and Ping An Good Doctor chairman Wang Tao is hoping to tap that growing interest, according to the report.
Good Doctor was officially launched in April 2015. The healthcare and medical service platform raised USD500 million in a Series A financing round in May 2016, which valued the company at approximately USD3 billion. The company claims to have 77 million registered users and as many as 250,000 daily consultations. However, just like many other start-ups, Good Doctor has yet to make a profit.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
