China's pharma tycoon said to mull $500m Singapore IPO of clinic arm

China's pharma tycoon said to mull $500m Singapore IPO of clinic arm

Luye Medical Group is seeking to raise funds after expanding through overseas acquisitions including the 2016 purchase of Healthe Care Australia Pty, the nation’s third-largest private hospital operator.

Luye Life Sciences Group Ltd., run by acquisitive Chinese entrepreneur Liu Dianbo, is considering a Singapore initial public offering of its health-care services arm that could raise as much as $500 million, people with knowledge of the matter said.

The company’s Luye Medical Group unit plans to evaluate proposals from investment banks as soon as next month, according to the people. The Singapore-based company aims to sell shares later this year, the people said, asking not to be identified as the discussions are private.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter