CEO Zhang Ligang (left) and COO Huang Feiyan of iKang. Photo: Courtesy of iKang

iKang Healthcare Group, Inc's initial public offering was priced at $16.50 on April 9, 2014, giving the largest provider in China's private preventive healthcare services market a healthy jumpstart.

iKang's IPO raised $153 million, after its offering of 10.9 million shares was priced 18 percent higher than the $14 issue price on the NASDAQ Global Select Market under the ticker code "KANG."

The group had a private placement of $40 million with the Best Investment Corporation, a subdivision of the China Investment Corporation.

Bank of America, Merrill Lynch and UBS Investment Bank are the lead underwriters for the offering.

All capital raised from the IPO will be invested in iKang's medical service center and dental center, as well as escalating IT system and operation funds.

Established in 2004, Beijing-based iKang Healthcare is the merger of ikang.com and Shanghai Guobin Medical Examination centers, and provides various healthcare services.