Fangzhou Inc. (Ticker: 6086.HK), a Chinese online medical services provider, is raising up to HK$199 million (USD 25.9 million) through the sale of 23.8 million primary shares in an indicative price range of HK$7.60 to HK$8.36 each (USD 0.99 to USD 1.09). The company, which targets patients with chronic diseases and had 8.4 million average monthly active users at the end of 2023, is working with sponsors Citigroup and ABC International.

Fangzhou posted an adjusted net profit of RMB 7.2 million (USD 0.99 million) for 2023, against an adjusted net loss of RMB 89 million (USD 12.2 million) for 2022. The deal will price on July 4 and the listing will take place on July 9.