Irish health tech company EveryBaby intends to launch an IPO in Hong Kong, according to a Hong Kong media report.

EveryBaby CEO Dabriel Choi said on Tuesday that the company plans to raise money later this year.

According to Choi, EveryBaby is now wholly owned by him.

Choi further said that EveryBaby intends to sell 20% of its shares and bring in several healthcare-related investors in the U.S.

In addition, the company intends to go public in Hong Kong in the future under Chapter 18A, which is for biotech companies that are not yet profitable or revenue generating.

However, there is no timetable for a potential Hong Kong IPO at this stage.

Choi disclosed that he himself is based in London, while the Asia headquarters is in Hong Kong, which has a strong healthcare infrastructure and a strategic location to help penetrate the mainland China market.

In addition, he said, EveyBaby is also developing the Middle East market and has opened an office in the United Arab Emirates.