New Century Healthcare IPO kicks off 2017

Chinese private hospital operator launches Asia’s first IPO in the new calendar year.
New Century Women's and Children's Hospital in Chaoyang district, Beijing
New Century Women's and Children's Hospital in Chaoyang district, Beijing

New Century Healthcare, a Beijing-headquartered pediatric hospital operator, launched the management roadshow for a HK$1 billion $129 million initial public offering on Wednesday in what could be the first major deal in 2017.

The initial terms of the deal are 120 million new shares pitched at HK$6.36 to HK$8.36 each and a 15% greenshoe option to sell an additional 18 million new shares. This means the company’s high profile pre-IPO investors including China Development Bank, CDH Investments and Boyu Capital will not be selling shares in the IPO.

The hospital operator has picked a traditionally quiet period in January to launch its share...

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