The digital health Veterinary Services platform, Health Road Co., Ltd. (02587.HK), announced the details of its IPO, planning to globally issue 25 million shares, of which 10%, or 2.5 million shares, will be publicly offered locally, and the remaining 90%, or 22.5 million shares, will be for international placement.

The offering price per share is between 7.8 and 8.8 HKD, raising up to 0.22 billion HKD. The minimum trading unit is 500 shares, with an entry fee of approximately 4,444.38 HKD. The subscription period will start from tomorrow (18th) to next Monday (23rd), and pricing is expected to take place next Tuesday (24th), with the listing on the Main Board of the Stock Exchange on the 30th of this month. CCB International serves as the sole sponsor.

This IPO introduces the Hengqin Guangdong-Macau Deep Cooperation Zone Industry Investment Fund as a cornerstone investor, which will subscribe for shares equivalent to 95 million RMB. If calculated at the median offer price of 8.3 HKD per share, it will involve 12.274 million shares, representing about 1.4% of the issued capital after listing.

At the median offering price, the net amount raised from Health Road's listing is 0.121 billion HKD, with approximately 60.5% of the net proceeds to be used for Business development, including expanding the specialty pharmacy network and hiring more staff; about 21% is expected to be used for strategic investments or acquisitions, around 14.5% for research and development, and the remaining approximately 4% for working capital and general corporate purposes.

Baidu (09888.HK) participated in the company's Series A financing in 2015 through Baidu Hong Kong, investing 60 million USD. It is expected that after Health Road goes public, Baidu will hold approximately 12.1% of its shares, making it the second-largest Shareholder.