Cofoe Medical Technology Seeks Up to HK$1.06 Billion in Hong Kong IPO

MT Newswires Live09:28

Cofoe Medical Technology (HKG:1187, SHE:301087) launched its Hong Kong initial public offering on Monday, seeking to raise up to about HK$1.06 billion from the deal.

The China-based home care medical device provider is offering 27 million H-shares at a maximum offer price of HK$39.33 per share, according to a Hong Kong bourse filing.

The offering comprises 2.7 million shares for Hong Kong investors and 24.3 million shares for international investors, subject to reallocation.

The offer price is expected to be determined by May 4, with allocation results due by May 5, ahead of the company's planned trading debut on May 6.

Net proceeds will be used mainly to support global expansion and strengthen overseas sales channels, as well as advance product research and development.

The funds will also be used to expand domestic distribution networks, enhance branding and marketing efforts, and for working capital and general corporate purposes.

Huatai Financial Holdings (Hong Kong) and BNP Paribas Securities (Asia) are acting as joint sponsors.

Huatai Financial Holdings (Hong Kong) and BNP Paribas Securities (Asia) are serving as overall coordinators and are also acting as joint bookrunners and joint lead managers, alongside Futu Securities International (Hong Kong).

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