Chinese Tycoon Eyes $500M IPO of Luye Life Sciences' Clinic Arm

Luye Life Sciences Group, run by acquisitive Chinese entrepreneur Liu Dianbo, is considering a Singapore initial public offering of its health-care services arm that could raise as much as $500 million, people with knowledge of the matter said.

The company’s Luye Medical Group unit plans to evaluate proposals from investment banks as soon as next month, according to the people. The Singapore-based company aims to sell shares later this year, the people said, asking not to be identified as the discussions are private.