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March 17, 2014
Pharma
By Asian Scientist Newsroom

iKang Launches US$150 Million IPO On NASDAQ

The initial public offering is expected to raise US$150 million for expansion through acquisitions and the building of new medical centers.

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AsianScientist (Mar. 17, 2014) – China’s largest privately held preventive healthcare service provider aims to raise US$150 million with initial public offering on the US’ NASDAQ.

iKang is the largest player in the Chinese healthcare services market, with an estimated 11.6% of the market share. Currently operating 42 medical centers, iKang has said that the funds raised through the IPO will be used to finance potential acquisitions and build new medical centers in China.

The present IPO is underwritten by Bank of America Merril Lynch and UBS investment group. Goldman Sachs Group Inc., an early investor, holds stakes in iKang.

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Copyright: Asian Scientist Magazine; Photo: iKang.
Disclaimer: This article does not necessarily reflect the views of AsianScientist or its staff.

Asian Scientist Newsroom

Asian Scientist Magazine is an award-winning science and technology magazine that highlights R&D news stories from Asia to a global audience. The magazine is published by Singapore-headquartered Wildtype Media Group.

Asian Scientist Newsroom

Asian Scientist Magazine is an award-winning science and technology magazine that highlights R&D news stories from Asia to a global audience. The magazine is published by Singapore-headquartered Wildtype Media Group.

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