Shanghai INT Medical to Invest Up to 110 Million Yuan in New Medtech Fund; Shares Shed 1%

MT Newswires Live08-07

Shanghai INT Medical Instruments (HKG:1501) plans to invest up to 110 million yuan in a newly formed limited partnership fund focused on China's medical device sector, according to a Wednesday Hong Kong bourse filing.

Shares of the medical device maker were down over 1% in Thursday afternoon trade.

An initial contribution of 50 million yuan will be made to the Huaige Guangtai Fund, which is managed by Huaige Health and registered in China.

Shanghai INT will hold a 41.3% stake in the fund's 121 million yuan first-round capital commitment.

Overall, the fund targets a total capital commitment of 350 million yuan.

Structured as a five-year vehicle, Huaige Guangtai will focus on equity investments in medtech companies, though no specific targets have been identified yet.

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