Hong Kong-based brand builder and retailer of health and personal-care products Ausupreme International Holdings is to list on the main board of the Stock Exchange of Hong Kong.
Expecting aggregated net proceeds to be about HK$100 million, Ausupreme intends to apply the net proceeds for developing and strengthening the brand, maintaining, expanding and improving the sales network, exploring business collaborations and expanding the customer base; diversifying and expanding its product portfolio and general working capital.
Ausupreme was founded by Choy Chi Fai and Ho Ka Man in 2001. It focuses on developing, marketing, selling and distributing branded health and personal-care products. Its three main brands are Organic Nature, Superbee and Top Life.
It sells a selection of more than 60 health supplement products, 21 honey and pollen products and 11 personal-care products through 13 specialty stores and 74 consignment sales counters in Hong Kong and Macau and through distributors.
Ausupreme also has an eCommerce sales network and co-operates with online shopping platforms in China. It is developing a sales network in Singapore through an exclusive distributor, and direct sales are made through exhibitions and trade fairs. Its lead products are Bilberry, Liver Tonic, Omega-3, Propolis, Royal Jelly and Super Eye Care.
For the three years ended March 31, the group generated approximate revenue of $195.5 million, $225.8 million and $210.8 million. Its net profit was about $34.6 million, $23.2 million and $12.3 million while its adjusted net profit (excluding listing expenses) was about $34.6 million, $25.3 million and $25.3 million for the respective years.
A total of 187,500,000 shares are being offered, with the price per share expected to be not less than HK$0.55 (US7c) and not more than HK$0.71.
The public offering closes on Friday, with the final offer price and allotment results expected to be announced on September 9.