China’s iKang Healthcare Group files for $150m Nasdaq IPO


china beijing_sqPrivate equity-backed Chinese healthcare services company iKang Healthcare Group has filed to raise $150m via an IPO on the Nasdaq exchange.

Singapore sovereign wealth fund owns a 13.6 per cent stake in the company, while Goldman Sachs and NewQuest Asia own 10.5 per cent and 7.8 per cent, respectively.

BofA Merrill Lynch and UBS Investment Bank are acting as underwriters for the IPO, according to a document filed with the US Securities and Exchange Commission.

IKang did not say how many shares it is looking to offer and at what price.

Last year the company saw its revenues surge 50 per cent to $173m, while profits climbed 43 per cent to $27m.

In January NewQuest bought China Hydroelectric Corporation in a $190m take-private deal.

The firm recently hit a first close for its first vehicle launched after its spinout from Bank of America Merrill Lynch.

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