Guangdong True Health Medical Technology Development Co., Ltd. (stock short name: TH MEDICAL-B) has finalised the terms of its Hong Kong initial public offering, setting the offer price at HK$126.20 per H share. The Global Offering comprises 3.56 million H shares, split 10% to the Hong Kong Public Offering and 90% to the International Offering.

Gross proceeds are expected to reach HK$449.90 million, with estimated listing expenses of HK$65.90 million, leaving net proceeds of HK$384.00 million. No over-allocation occurred; the 15% over-allotment option will therefore lapse on listing, and no post-listing stabilisation is planned.

Demand from Hong Kong retail investors was exceptionally strong: 128,208 valid applications were received for 356,480 shares, translating into an oversubscription of 1,790.4 times. The international tranche was 2.2 times covered by 107 placees. The 25 largest international placees were allotted 2.01 million shares, equal to 62.51% of that tranche and 5.63% of the enlarged share capital.

Upon listing, the company will have 35.65 million H shares in issue. Of these, 15.21 million H shares (42.66% of the total) will be in public hands, exceeding the 25% public-float threshold required by the Hong Kong Listing Rules. Concentration remains high: the top ten H shareholders will hold 79.22% of the issued H shares after listing, while controlling shareholders—ultimately beneficially owned by Ms. Cheong Hou Iam—will together control 41.96% of the company’s share capital. All existing shareholders, including Pre-IPO investors who collectively own 48.04% of the H shares, are subject to a 12-month post-listing lock-up under PRC Company Law.

Trading of TH MEDICAL-B shares is scheduled to commence on the Main Board of the Stock Exchange of Hong Kong at 9:00 a.m. on 30 June 2026 in board lots of 20 shares under stock code 2697.