Lung Fung Group Holdings Limited (02290.HK) has launched its Hong Kong IPO. The offering period runs from May 28 to June 2, 2026. The company plans to globally offer 125,000,000 shares, subject to a 15% over-allotment option. The offer price ranges from HK$5.18 to HK$6.38 per share, with a board lot size of 500 shares and an entry fee of approximately HK$3,222.17. The shares are expected to be listed on the Main Board of the Stock Exchange of Hong Kong on June 5, 2026. DBS Asia Capital Limited is acting as the sole sponsor.

Lung Fung Group: Hong Kong’s Third-Largest Beauty, Healthcare and Pharmaceutical Retailer

Offering structure: Hong Kong public offering approximately 10% (12,500,000 shares), international placing approximately 90% (112,500,000 shares).

Offer price: HK$5.18–HK$6.38 per share; board lot size of 500 shares; entry fee of approximately HK$3,222.17.

Offering period: May 28, 2026 – June 2, 2026 (expected pricing date: June 3, 2026).

Listing date: June 5, 2026.

IPO sponsor: DBS Asia Capital Limited.

Company Overview

Lung Fung Group Holdings Limited is a Hong Kong-based chain retailer of beauty products, healthcare products and pharmaceuticals operating under the “Lung Fung” brand. According to Frost & Sullivan, in fiscal year 2025, the group ranked third among beauty products, healthcare products and pharmaceutical retailers in Hong Kong by retail sales, with a market share of approximately 5.8%. By retail sales, it was also the largest pharmaceutical retailer in Hong Kong, with a market share of approximately 5.2%. As of the latest practicable date, the group operated 31 retail stores in Hong Kong and also sold products through its official online store and online platforms including Tmall, WeChat Mini Program and JD.com.

Financial Information

According to the prospectus, Lung Fung Group recorded revenue of approximately HK$1.094 billion, HK$2.021 billion and HK$2.460 billion for the fiscal years 2023–2025 (years ended March 31), respectively. During the same periods, the group recorded loss/net profit of approximately negative HK$27 million, HK$145 million and HK$170 million, respectively. For the first eight months of fiscal year 2026, the group recorded revenue of approximately HK$2.035 billion and net profit of approximately HK$148 million. Based on the midpoint offer price of HK$5.78 per share, assuming the over-allotment option is not exercised, the company expects net proceeds of approximately HK$672 million. The proceeds are intended to be used for expanding, strengthening and optimizing its offline and online sales network (approximately 36.6%), pursuing strategic investments and acquisition opportunities (approximately 15.0%), repayment of outstanding loans (approximately 20.0%), upgrading IT systems (approximately 11.4%), brand management and marketing (approximately 3.5%), enhancing supply chain capabilities (approximately 3.5%), and general working capital purposes (approximately 10.0%).

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This promotion is effective from 5 December 2025 until further notice. Certain high-profile IPOs may be excluded. The actual interest rates and fees charged are those shown in the uSMART App subscription interface; statutory government and exchange levies will still apply. The company reserves the right to amend, suspend or terminate the above offer or its terms and conditions at any time without prior notice, and its interpretation shall be final.

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