JD Health looks to raise up to $3.5b in Hong Kong IPO

ࢀœJD Health is looking to raise as much as US$3.5 billion in its Hong Kong initial public offering in what could be Asiaࢀ™s biggest healthcare listing on record,ࢀ Bloomberg reported. The company is selling 381.9 million shares at HK$62.8 to HK$70.58 (US$8.1 to US$9.11) each, which puts JD Healthࢀ™s value at up to US$28.5 billion. Its financial debut could exceed Ostuka Holdingsࢀ™ US$2.3 billion IPO and become Asiaࢀ™s biggest listing in the space, the report noted. Six cornerstone investors, including Singapore sovereign wealth fund GIC, Hillhouse Capital, and BlackRock, have agreed to subscribe for as much as US$1.35 billion of…