Non-prescription drug distributor Gang Yao Digital Technology (HKPD.US) prices IPO at $4 per share, aiming to raise $6 million.

Hong Kong Pharma Digital Technology, which provides cross-border supply chain and distribution services for over-the-counter drugs in mainland China, priced its initial public offering (IPO) at $4 per share, at the lower end of the $4-6 price range. The company will issue 1.4 million shares, raising $6 million. It will be listed on the Nasdaq with the stock code "HKPD". The company's main business includes two categories: cross-border e-commerce supply chain services for over-the-counter drugs and cross-border procurement and distribution of over-the-counter drugs. By collaborating with over-the-counter drug suppliers, logistics companies, and merchants operating stores on e-commerce platforms in China, the company provides a one-stop solution for mainland Chinese customers who wish to purchase over-the-counter drugs outside mainland China. Its services include pre-consultations, product information reviews, and purchasing overseas over-the-counter drug products. The company's revenue for the 12 months ending March 31, 2024, was $17 million.