Health care firm Beijing Yuanxin Technology, which has an online and offline pharmacy network, is planning to raise up to US$100 million (HK$780 million) from an initial public offering in Hong Kong.
Joint sponsors Goldman Sachs and CITIC Securities (6030) pre-promoted the potential deal last week.
Yuanxin filed for an IPO application in December, which was its fifth attempt to go public in Hong Kong since October 2021 when reports said it was aiming to raise up to US$500 million from the share sale.
Its investors include tech giant Tencent (0700) and venture capital firm HongShan.
Meanwhile, Shanghai-based car rental company eHi Car Services is considering a return to the US capital market with an IPO that may raise about US$300 million as soon as this year.
The company, which was delisted from the New York Stock Exchange in 2019 after a US$850-million take-private deal, is working with China International Capital Corp (3908), Deutsche Bank, JPMorgan, and UBS on the potential share sale may file confidentially for the listing once it clears regulatory approvals in China.
A listing would mark a rare return of a Chinese company to the US capital market.
Amid tensions between Beijing and Washington during the Trump administration, some US-traded Chinese firms such as Alibaba (9988) sought second listings in Hong Kong as a hedge against delisting risks.
And some decided to just delist from US exchanges.
Founded in 2006, eHi offers car rentals and chauffeur services and claims to be operating in more than 500 mainland cities with over 80,000 vehicles. The company raised US$120 million in a US IPO in November 2014.
