By P.R. Venkat

Warburg Pincus LLC-backed Hygeia Healthcare Holdings Co. has filed a draft prospectus for an initial public offering, joining the list of companies that are seeking to tap the active Hong Kong public market.

Hygeia Healthcare has appointed Morgan Stanley and Haitong International as joint sponsors for the IPO, a draft prospectus filed to the Hong Kong Exchange on Monday shows.

The company is one of the largest oncology healthcare groups in China, and operates oncology-focused hospitals and radiotherapy centers.

Warburg Pincus, through affiliate Fountain Grass Investment Ltd., owns a 17.47% stake in Hygeia Healthcare. Other shareholder include Hong Kong- and Shanghai-listed WuXi AppTec Co.

The draft prospectus didn't disclose the timing of the offering nor the amount Hygeia Healthcare is seeking to raise.

In the last year, Hygeia Healthcare recorded revenue of 1.09 billion yuan (US$153.9 million), up nearly 42% from 2018.

Hygeia Healthcare is the latest company seeking to tap the Hong Kong IPO market, which has remained active in recent months despite uncertainties caused by the Covid-19 pandemic.

U.S.-listed online-gaming company NetEase Inc. and e-commerce giant JD.com Inc. are in the market to raise billions of dollars via Hong Kong listings, as investor response to recently listed stocks has been encouraging. 



  Write to P.R. Venkat at venkat.pr@wsj.com