China’s biggest eye hospital chain Aier plans Hong Kong listing: sources

[HONG KONG] Aier Eye Hospital Group is considering listing in Hong Kong, according to people familiar with the matter, potentially joining a growing queue of mainland China companies looking to sell shares in the city.

China’s biggest chain of eye hospitals is working with an adviser on the share sale, the people said, asking not to be identified because the information is private. Details such as offer size and timing are being discussed, they said.

A representative for Aier did not respond to a request seeking comment.

Aier trades in Shenzhen and has a market capitalisation of about 96 billion yuan (S$17.8 billion). Its shares are near a five-year low, having fallen 26 per cent over the past 12 months.

Mainland China-traded companies selling shares in Hong Kong – often to raise money for international expansion – have helped with a resurgence in fundraising activity in the city, which had its busiest January ever for listings. Chinese technology firms, including those in AI, have contributed to the rush, along with companies already listed onshore, like pig breeder Muyuan Foods.

Hong Kong’s Hang Seng Index rose 28 per cent last year, its best performance since 2017. The gauge has slipped in 2026, dipping about 1 per cent since the start of the year.

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Established in 2002 and listed in Shenzhen in 2009, Aier ran nearly 900 eye hospitals, eye centres and clinics as of the end of 2023, according to its website. While most are in mainland China, there are also clinics in Europe, South-east Asia and Hong Kong. Its subsidiaries are listed in Spain and Singapore. BLOOMBERG