Star Sports Medicine Launches Up to HK$830 Million Hong Kong IPO

MT Newswires Live04-24

Star Sports Medicine (HKG:1609) launched its Hong Kong initial public offering on Friday, seeking to raise about HK$829.6 million from the deal.

The China-based medical device company is offering 8.4 million H-shares at an offer price of HK$98.50 per share, according to a Hong Kong bourse filing.

The offering comprises 842,200 shares for Hong Kong investors and 7.6 million shares for international investors, subject to reallocation.

The Hong Kong public offering closes on April 29, with allocation results due by May 4, ahead of the company's planned trading debut on May 5.

Net proceeds will be used mainly to expand production capacity and enhance manufacturing efficiency, as well as support research and development.

The funds will also be used to strengthen sales and marketing capabilities, expand global distribution, and for working capital and general corporate purposes.

CITIC Securities (Hong Kong) and CCB International Capital are acting as joint sponsors.

CLSA and CCB International Capital are serving as overall coordinators, alongside China Galaxy International Securities and CMBC Securities, and are also acting as joint bookrunners.

Futu Securities International (Hong Kong), Open Securities, Orient Securities (Hong Kong), and Zheshang International Financial are acting as joint bookrunners and joint lead managers.

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