Hong Kong IT service company Ultra High Point (UHP.US) has raised the scale of its IPO and plans to raise $17 million USD.

Ultra High Point Holdings, which provides IT services for hospitals in Hong Kong, has increased the proposed transaction size of its upcoming IPO. The company is now planning to raise $17 million by issuing 3.8 million shares (with 33% being old shares transferred) at a price range of $4 to $5 per share. Previously, the company had applied to issue 2.2 million shares (100% new shares issuance) at the same price range. With the revised transaction size at the midpoint, the funds raised by Ultra High Point Holdings will be 70% more than previously expected, and its market value will reach $185 million (an increase of 3% from previous terms). Ultra High Point Holdings provides customized and comprehensive medical IT solutions and services for public and private hospitals in Hong Kong. Its business scope includes designing and building customized Hospital Information Systems (HIS); developing customized Medical Internet of Things (IoMT) solutions; integrating clients' HIS with third-party systems and devices through its proprietary medical integration platform; and maintaining and upgrading the medical IT solutions it designs, builds, and installs. Founded in 2009, Ultra High Point Holdings plans to list on NASDAQ under the stock symbol UHP. Bancroft Capital is the sole bookrunner for this transaction.