Distinct Healthcare Holdings (HKG:2677) launched its Hong Kong initial public offering on Thursday, seeking to raise about HK$316.4 million from the deal.

The healthcare services provider is offering 4.75 million shares at an indicative price range of HK$57.70 to HK$66.60 per share, according to a Hong Kong bourse filing.

The offering comprises 475,000 shares for Hong Kong investors and 4.28 million shares for international investors, subject to reallocation and the overallotment option.

The offer price is expected to be determined on or before Feb. 4, with allocation results to be announced on Feb. 5, ahead of the company's planned trading debut on the Hong Kong Stock Exchange on Feb. 6.

Net proceeds will be used primarily to deploy AI technologies across healthcare delivery and operations, including automation of administrative processes, patient flow forecasting, clinical documentation support, and upgrades to internal IT systems and data platforms.

Funds will also be allocated to upgrading existing healthcare service institutions and opening new centres in Shenzhen, Hangzhou, and Shanghai, as well as for the selective acquisition of healthcare service providers in Tier-One and New Tier-One cities.

Haitong International Capital and SPDB International Capital are acting as joint sponsors.

Haitong International Securities and SPDB International Capital are serving as joint sponsor-overall coordinators and joint overall coordinators, alongside CMB International Capital, China Galaxy International Securities (Hong Kong), and CCB International Capital.

They are also joint global coordinators, alongside ICBC International Securities, China Renaissance Securities (Hong Kong), Zhongtai International Securities, and Futu Securities International (Hong Kong).

They are joint bookrunners together with XCap Partners, Funde Securities and Tiger Brokers (HK) Global.