Hospital to raise funds via IPO

Wenzhou Kangning Hospital in Zhejiang province, China's largest private psychiatric healthcare group, is planning to raise additional capital of 193 million yuan ($29.5 million) through an initial public offering in the A-share market to fund its business expansion.

The Wenzhou-based company, which earned revenue of around 400 million yuan last year, is also listed on the Hong Kong Stock Exchange.

Following the IPO, it would be the first firm focusing on mental healthcare in the A-share market.