Chaoju Eye Care to Gauge Investor Demand for HK$2.3B IPO, Aims to Raise USD 300 Million

Source: Zibenbang

On June 15, Capital Bond learned that, according to market sources, transaction documents indicate that Chaoju Eye Care will assess investor demand for its Hong Kong IPO from today through June 23, with the offering aiming to raise USD 300 million. According to the previously filed prospectus, Haitong International and Huatai International will serve as joint sponsors for the transaction.

The prospectus indicates that Chaoju Eye Care was founded by Zhang Chaoju in 1988. The company's largest shareholder comprises parties acting in concert, namely members of the Zhang family and their spouses, who collectively hold 58.09% of the shares.

Chaoju Eye Care operates a network comprising 17 eye hospitals and 23 optometry centers, with its revenue primarily derived from consumer eye care services and basic eye care services.

For the first nine months of 2019 and 2020, both the revenue and profit levels of Chaoju Eye Care exhibited a growth trend. In the first nine months of 2020, the Company's revenue and profit were RMB597 million (in RMB, same below) and RMB102 million, respectively, compared with RMB550 million and RMB61.1 million in the same period of the previous year, representing year-on-year increases of 8.55% and 66.94%, respectively.