Beijing Tong Ren Tang Healthcare delays Hong Kong listing amid market uncertainty

Healthcare-services provider Beijing Tong Ren Tang Healthcare Investment said on Friday it has postponed its global offering and planned listing on the Hong Kong stock exchange, citing prevailing market conditions.

The company said last week it had aimed to raise about HK$897.7 million through a global offering with the maximum offer price set at HK$8.30 per H-share.

It said all application monies will be fully refunded, without interest.

The firm is a unit of Tong Ren Tang, a Chinese pharmaceutical firm founded in 1669.

Several Chinese companies have launched Hong Kong share offering over the past week, even as Beijing increases scrutiny of mainland companies seeking to list in the city.

The cluster of launches - despite a darkening global economic picture due to the war in the Middle East - adds to a strong start to 2026 for Hong Kong’s listings market, which is experiencing its best opening quarter since 2021.

Hong Kong IPOs raised about US$11.64 billion (HK$91.2 billion) in the first quarter of 2026, a 385 percent surge from roughly US$2.4 billion a year earlier, according to LSEG data as of March 18.

Reuters