Hong Kong pain management and health services provider Anew Health (AVG.US) lowers IPO fundraising target.

Hong Kong-based pain management and health services provider Anew Health (AVG.US) revised the terms of its upcoming initial public offering (IPO) on Friday. The company now plans to raise 19 million dollars by issuing 3.8 million shares of stock, with an offering price range of 4 to 6 dollars. Previously, the company had planned to issue 5 million shares of stock at a price of 4 dollars per share. With the new mid-point pricing, the company's fundraising amount will be 6% less than previously expected. Under the Anew Health brand, the company offers a variety of non-surgical, non-invasive, and non-pharmaceutical pain management treatments and therapies, functional enhancement therapies, and health products. The company provides pain management and functional enhancement services through three service centers in Hong Kong. Anew Health was founded in 2007 and had revenue of 41 million dollars for the 12-month period ended September 30, 2024. The company plans to list on the Nasdaq under the ticker symbol AVG. The sole underwriter for this transaction is D. Boral Capital.