According to market data on November 6, the traditional Chinese medicine decoction pieces supplier NEAUTUS (02206) has reportedly attracted approximately 59,000 subscribers in its Hong Kong public offering, with the offering oversubscribed by 2,192 times, involving HK$72.9 billion.

NEAUTUS began taking subscriptions on October 30, with a price range of HK$40.2 to HK$50.55 per share, a board lot of 50 shares, and an entry fee of HK$2,552.99. The global offering comprises 6.517 million shares, of which 90% is allocated to the international placing and 10% to the Hong Kong public offering, raising a maximum of HK$329 million. GF Securities and ABC International are the joint sponsors. The company is expected to price on November 9, announce allotment results on November 10, and list on November 11.

According to the prospectus, NEAUTUS is a major supplier of traditional Chinese medicine ("TCM") decoction pieces products in China. Based on 2025 revenue from TCM decoction pieces products, NEAUTUS ranks second in China, holding a 0.4% market share in a highly competitive market landscape, where the top five market participants collectively hold a 2.7% market share, according to Frost & Sullivan.

On the financial front, the company recorded revenue of approximately RMB 1.146 billion, RMB 1.249 billion, RMB 1.335 billion, and RMB 432 million for the years 2023, 2024, 2025, and the four months ended April 30, 2026, respectively. During the same periods, the company recorded total comprehensive income of approximately RMB 104 million, RMB 90 million, RMB 107 million, and RMB 34 million, respectively.