True Health Medical Technology Launches HK$483 Million Hong Kong IPO
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.
