3 stories mentioning HKG:2697Updated 40d ago
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Guangdong True Health Medical Technology Development's (HKG:2697) shares opened 159% above the offer price in a stellar Hong Kong debut on Tuesday morning.The surgical robot developer opened at HK$327.20 per share, well above the offer price of HK$126.20.
Guangdong True Health Medical Technology Development (HKG:2697) raised HK$384 million in net proceeds from its initial public offering in Hong Kong after pricing the shares below the midpoint of the indicative range.The surgical robot developer issued 3.56 million shares at HK$126.20 each, less than the HK$127.40 midpoint of the HK$119.30 to HK$135.40 price range, according to a Monday bourse filing.The Hong Kong public offering portion of the deal was 1,790.4 times subscribed, with 356,480 shares allocated, while the international offering was 2.2 times subscribed, with 3.2 million shares allocated.True Health Medical is set to debut on the Hong Kong bourse today, June 30.
Guangdong True Health Medical Technology Development (HKG:2697) launched its Hong Kong initial public offering on Monday, seeking to raise up to HK$482.7 million.The China-based surgical robotics company is offering 3.6 million H shares at a maximum price of HK$135.40 each, according to a Hong Kong bourse filing.The offering comprises 356,480 shares for Hong Kong investors and 3.2 million shares for international investors, subject to reallocation and the over-allotment option.The offer price is expected to be determined by June 26, with allocation results due by June 29, ahead of the company's planned trading debut on June 30.Net proceeds will be used primarily to fund the research, development, and commercialization of True Health Medical's core surgical robotics product.The company also plans to use the funds to advance key and other pipeline products, expand manufacturing capacity and production capabilities, and for working capital and general corporate purposes.CICC Hong Kong Securities, DBS Asia Capital, ABCI Capital, Funde Securities, CMBC Securities, Livermore Holdings, Open Securities and SPDB International Capital are serving as joint bookrunners, according to the prospectus.
