Tongrentang Medical Care plans to raise no more than 671.6 million Hong Kong dollars for its Hong Kong IPO.

According to the announcement submitted to the Hong Kong Stock Exchange, Beijing Tongrentang Medical and Health Investment Co., Ltd. is selling 108 million shares in Hong Kong, with a price range of HK$5.48 to HK$6.21 per share. The calculation shows that the company is expected to raise up to HK$671.6 million. It is expected to list for trading on July 7th, with China International Capital Corporation Limited as the sole sponsor.