Chinese AI firm iFlytek's healthcare unit files for Hong Kong IPO

Asia Tech Wire (Jan 29) -- iFLYHealth, the healthcare unit of Chinese artificial intelligence company iFlytek Co Ltd (002230.SZ), has applied for an initial public offering (IPO) in Hong Kong.

Chinese media outlet Securities Times reported on Monday that iFLYHealth had filed for a Hong Kong IPO on 26 January, hiring Huatai International Financial Holdings Co Ltd, GF Capital (Hong Kong) Ltd and CCB International (Holdings) Ltd as joint sponsors.

Founded in May 2016, iFLYHealth's main business is smart healthcare, including primary care services, hospital services and patient services.

Earlier this month, iFlytek announced its intention to spin off its controlling subsidiary, iFLYHealth, for listing on the Main Board of the Hong Kong stock exchange.

Upon completion of the spin-off, iFlytek will maintain control of iFLYHealth with a 52.47% shareholding.

The previous spin-off proposal showed that iFLYHealth would offer no more than 20,899,000 shares in the IPO, while up to 23,103,400 shares in case of full exercise of an over-allotment option.

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