Tencent Holdings-backed WeDoctor has revived its plan for a Hong Kong stock listing. The company aims to submit its application at the end of December and hopes to complete the initial public offering (IPO) by June, expecting to raise US$400 million to US$500 million, according to sources familiar with the matter.
Rumours in January 2023 suggested that the company would revive its IPO plan, but it never materialised.
Founded in 2010 by Jerry Liao and his team, WeDoctor operates across several business segments, including healthcare, insurance and pharmaceuticals. It plans to spin off its healthcare and technology divisions.
WeDoctor said in its prospectus in 2021 that it would use most of the proceeds to expand and launch more products in mainland China. The rest would be allocated for research and development, potential investments, acquisitions or strategic alliances.
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