(Bloomberg) — Lvshou, a Chinese weight management company, is considering an initial public offering in Hong Kong that could raise about $150 million, people with knowledge of the matter said.
The Guangzhou-based firm is working with advisers on a potential first-time share sale, said the people, who asked not to be identified as the information is private. The listing could take place as soon as the second half of 2022, the people said. Lvshou is valued at about 6 billion yuan ($946 million), one of the people said.
Deliberations are ongoing and details such as timing and fundraising size could change, the people said. Lvshou didn’t immediately respond to requests for comment.
In a country where the skinny aesthetic is the standard, Chinese consumers are becoming increasingly health and fitness conscious. Companies in the growing sector aiming to raise funds include Beijing Calories Technology Co., the firm behind fitness app Keep, which is weighing a Hong Kong IPO after previously filing confidentially for a U.S. listing, Bloomberg News reported last month.
Lvshou sells weight loss supplements, snacks and beverages, according to its website. It also offers wearable gadgets and manages a mobile application that leverages health-related data to offer more targeted services to customers.
(Updates with digital operations in last paragraph.)
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