On July 6, people familiar with the matter revealed that Keep Inc. has set its offering price at HK$28.92 per share in its Hong Kong initial public offering, raising about HK$313 million, according to Bloomberg news.
According to a previous company announcement, Keep plans a global offering of 10.839 million shares, including an international offering of 9.755 million shares, or 90 per cent, and a public offering of 1.084 million shares at an offer price range of HK$28.92 to HK$61.46 per share, with an over-allotment option of 15 per cent.
According to the prospectus, the proceeds from Keep's fundraising will be used over the next three years for research and development to enhance technological capabilities and drive product innovation; for fitness content development and diversification; for branding and promotion; and for general corporate purposes and working capital needs.
About KEEP
Keep (健身房) is a prominent Chinese fitness technology company that offers a range of online fitness and wellness services. It was founded in 2014 by Wang Ning, a former Google employee, and has quickly gained popularity in China's fitness industry.
Keep provides a comprehensive fitness platform that combines workout programs, personalized training plans, nutrition guidance, and community support. The company's mobile application, also named "Keep," has become one of the most popular fitness apps in China, boasting millions of active users.
Key features of Keep include:
Workout Programs: Keep offers a wide variety of workout programs catering to different fitness levels, goals, and preferences. These programs cover various exercise types, including cardio, strength training, yoga, dance, and more.
Personalized Training: The app provides personalized training plans based on users' goals, fitness levels, and available equipment. It offers guided workouts, exercise demonstrations, and progress tracking to help users stay motivated and achieve their fitness targets.
Community and Social Features: Keep emphasizes community engagement by creating a social platform where users can interact, share their progress, and participate in challenges with friends and other fitness enthusiasts. This social aspect adds a sense of accountability and encouragement to the users' fitness journeys.
Wellness Services: In addition to fitness, Keep has expanded its offerings to include wellness services such as meditation, sleep tracking, and nutrition guidance. These features aim to promote a holistic approach to health and well-being.
Integration with Fitness Devices: Keep integrates with various fitness devices and wearables, allowing users to track their workouts and health data seamlessly. This integration enhances the user experience and provides more accurate tracking of fitness progress.
Keep has achieved significant success in the Chinese market and has garnered attention from investors. It has raised substantial funding from renowned venture capital firms, including GGV Capital and Tencent Holdings. The company has also collaborated with fitness brands and celebrities to create exclusive content and further expand its user base.
With its user-friendly interface, diverse workout options, and focus on community engagement, Keep has played a pivotal role in popularizing online fitness in China and promoting a healthier lifestyle among its users.
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