China’s top medical equipment maker Mindray could raise US$1 billion from Hong Kong IPO
The Shenzhen-based company plans to use the listing proceeds for R&D and improve its global sales network and supply chain capabilities
The Shenzhen-listed company currently has a market capitalisation of 251.63 billion yuan (US$35 billion), making it one of the largest A-share firms to issue shares in Hong Kong.
Mindray was seeking a Hong Kong listing “to advance our global strategic layout, establish an international capital operation platform and enhance our comprehensive competitiveness”, according to its filing to the Hong Kong stock exchange.
The Shenzhen-based company did not disclose the amount it planned to raise, but stockbrokers widely believed it could reach at least US$1 billion.
The funds would be used for global research and development to develop high-end product lines and create an intelli-digital healthcare ecosystem, as well as to enhance its global sales network and supply chain capabilities, the filing said.