Hong Kong Pharma Digital Technology, which provides cross-border supply chain and distribution services for OTC drugs in China, raised $6 million by offering 1.4 million shares (29% secondary) at $4, the low end of the range of $4 to $6.
Hong Kong Pharma Digital Technology will be excluded from Renaissance Capital's 2025 IPO stats because it has a market cap of less than $50 million at pricing.
The company's business consists of two main categories: OTC pharmaceutical cross-border e-commerce supply chain services, and OTC pharmaceutical cross-border procurement and distribution. Through its engagement with OTC pharmaceutical suppliers, logistics companies, and merchants who operate stores on Chinese e-commerce platforms, the company offers a one-stop solution for Mainland Chinese customers who wish to access OTC pharmaceutical products outside Mainland China. Its services include pre-consultation, product information review, and procuring overseas OTC pharmaceutical products, among others.
Hong Kong Pharma Digital Technology plans to list on the Nasdaq under the symbol HKPD. Bancroft Capital and Eddid Securities and Futures acted as joint bookrunners on the deal.
