Passing the Mind Medical A-share IPO meeting | Challenge the GEM IPO record

According to Bloomberg News, Mindray Medical, one of China's largest medical device suppliers, said that the A-share IPO is said to have passed the audit of the China Development Board today and is expected to challenge the IPO fundraising record of the China Growth Enterprise Market.

According to people familiar with the matter, the IPO application of Shenzhen Mindray Biomedical Electronics Co., Ltd. has passed the audit of the China Securities Regulatory Commission (CSC) this morning. According to the Mindray Biomedical Prospectus (the draft) issued by the SFC website, the company seeks to raise about 6.34 billion. Yuan Renminbi.

Mindray International, the predecessor of Mindray Medical, was listed in New York and later privatized and delisted. Mindray also became the next one after the 3600 (27.780, 0.75, 2.77%) and WuXi PharmaTech (89.460, 1.34, 1.52%). The company that returned to China after the US delisted. The lead underwriter of Mindray Biomedical is Huatai United Securities.

When the Mindray IPO is over, it is in China. medicine Listed companies have suffered from vaccine scandals. The long-lived creatures whose stock price has risen more than 130% during the year have fallen for the seventh consecutive trading day. The public's trust in Chinese pharmaceutical products is once again facing a crisis, and the A-share medical sector, which performed best this year, has once plummeted. .

Despite this, after Bloomberg reported on the news of Mindray Medical, the share price of A-share listed companies participating in Mindray Biomedical showed a significant increase in the afternoon. Shenzhen Energy once rose 4.4% in the afternoon, the biggest increase since March 8, Mass Transportation The biggest increase was 4.6%, the stock price rose to the highest since June 19, its B shares rose 2.5%, and the public share once rose 2.4%.

The China Securities Regulatory Commission did not immediately respond to a fax from Bloomberg News seeking comment. Mindray Biomedical did not answer the call from Bloomberg for comment, nor did it immediately respond to the email.

According to the latest draft prospectus disclosed by Mindray Medical in May, the company plans to issue no more than 122 million shares, fundraising to repay bank loans and supplementary working capital projects, marketing service system upgrade projects and other eight projects, intending to use raised funds 6.34 billion yuan.

This means that Mindray Medical will be able to set a record for the highest fundraising of the GEM that was previously set by the Ningde era of 5.46 billion yuan. However, the final actual fundraising scale of the IPO in Ningde era was significantly reduced from the draft prospectus.

Mind Medical, a production monitor, blood cell analyzer and color ultrasound products, had an operating income of 11.17 billion yuan in 2017, and the prospectus reported that it was the largest in China. medical instruments Producer's. According to Bloomberg data, among the 37 A-share listed medical device companies, Xinhua Medical, which has the highest revenue in 2017, was 9.92 billion yuan.

Mindray Medical also faces the risk of Sino-US trade wars. Mindray said in the May draft that 'if the US imposes a 25% tariff on Chinese medical device products, and the company cannot transfer costs to downstream customers, it may be possible for the company in the US The profit margin of the products sold has a certain negative impact. '

Mindray International, the predecessor of Mindray Medical, was listed on the American Depositary Shares (ADS) on the New York Stock Exchange in 2006. On the eve of the 2015 Chinese stock market crash, Mindray International launched the privatization of American depositary shares listed on the NYSE, from March 2016 The US delisted, and its filing disclosure disclosed a consideration of approximately $2.46 billion.

Attracted by the high valuation of China's stock market, China's listed Chinese stocks saw a wave of record privatization in 2015, when 38 Chinese stocks announced a total of 37 billion US dollars in privatization transactions.