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Hong Kong: AK Medical launches IPO

AK Medical Holdings, which is the largest artificial orthopaedic joint manufacturer in China, has opened books for its HK$500 million (US$64 million) IPO.

The company plans to sell 250 million shares at an indicative price range of HK$1.66-HK$2.00 each.

Originally planned for March, the group refiled its IPO in September.

Profits at AK Medical last year were Rmb77.4 million (US$11.8 million) on revenues that hit Rmb270.8 million, predominantly thanks to sales in China. For the first half of this year, profits stood at Rmb50 million on revenues that were Rmc162.5 million.

Proceeds from the IPO will primarily be used to construct a new Rmb75.4 million production facility in Changzhou.

Sole sponsor is Goldman Sachs

The IPO will price on December 12.

Posted on: 07/12/2017 UTC+08:00


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