Powei Pharma (AED.US), a Hong Kong-based medical equipment and software procurement company, filed with the U.S. Securities and Exchange Commission (SEC) last Thursday for an initial public offering (IPO) to raise up to $7 million. The company plans to issue 900,000 shares priced between $7 and $9 per share, targeting a $7 million capital raise. At the midpoint of the proposed price range, Powei Pharma would have a market valuation of $87 million.

Through its subsidiaries, Powei Pharma distributes medical devices and software to healthcare providers and distributors in Hong Kong and mainland China. Its product portfolio includes infusion pumps, anesthesia laryngoscopes, portable X-ray machines, automated external defibrillators, and proprietary medical software such as Prim (a preclinical imaging post-processing tool) and iMRIPlus (an MRI analysis platform).

Founded in 2003, the Hong Kong-headquartered company reported $25 million in revenue for the 12-month period ending March 31, 2025. Powei Pharma intends to list on the Nasdaq under the ticker symbol "AED," with Maxim Group LLC serving as the sole bookrunner for the offering.