Shanghai Kindly Medical Instruments Raises $106 Million in Hong Kong IPO

According to Global Legal Chronicle, Shanghai Kindly Medical Instruments Co., Ltd. ("Kindly Medical Instruments"), coded as "1501.HK", has raised HK$832 million (approximately US$106 million) on the Main Board of the Hong Kong Stock Exchange.

The Global Offering consists of a total number of 40,000,000 Offer Shares of the Company (before any exercise of the over-allotment option). This was an extraordinarily successful IPO, with its Hong Kong public shares oversubscribed by more than 260 times. In addition, there is an over-allotment option, for a total projected offering size of HK$957 million (US$122 million) should the over-allotment option be exercised in full.

Founded in 2006 in Jiading District, Shanghai, Kindly Medical Instruments has been focusing on the research and development, production and sales of interventional medical devices. The company is a subsidiary of Shanghai Kindly Enterprise Development Group Co., Ltd (stock code: 603987.SH) which listed on the main board of the Shanghai Stock Exchange.

Kindly Medical Instruments is a leading Chinese cardiovascular interventional device manufacturer. It has designed, developed and produced cardiovascular intervention and other interventional medical devices in-house to meet different clinical needs. As of 19 October 2019, it had 62 registered patents, five registered software, 15 NMPA registration certificates for Class III medical devices, 12 Shanghai MPA registration certificates for Class II medical devices, 28 CE approved products and 10 FDA approved products.

BOCOM International (Asia) Ltd. is the Sole Sponsor. BOCOM International Securities Ltd. and CMB International Capital Ltd. are the Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers.

BOCOM International is a subsidiary of Bank of Communications Co., Ltd. It provides a wide range of financial services including securities brokerage, corporate finance, and asset management to our domestic and international clients.  

CMB international is a comprehensive and professional financial institution based in Hong Kong. Relying on China Merchants Bank's strength and its social reputation, CMB International provides Hong Kong listing sponsor and underwriting, placement of listed companies and rights, financial advisory, bond issuance services, asset management, direct investment, wealth management, stock sales, and trading and other financial services.