By P.R. Venkat
Medlive Technology Co. is planning to raise up to 4.22 billion Hong Kong dollars (US$543.4 million) through an initial public offering in Hong Kong.
The Beijing-based online medical information and marketing platform plans to sell 155.10 million shares at between HK$24.10-HK$27.20 per share, Medlive said Wednesday.
Final pricing of the shares are expected to take place on July 7 and shares will start trading on the Hong Kong exchange from July 15, the company said.
Medlive had said earlier that it intends to use the proceeds to expand its business, invest in technology and make strategic investments or acquisitions.
The company generates revenue primarily from marketing services to pharmaceutical and medical device companies using the platform. Its major shareholders include Tokyo-based M3 Inc., an online medical services provider and an affiliate of Sony Group Corp.
Goldman Sachs, CICC are among banks advising Medlive on the IPO.
Write to P.R. Venkat at firstname.lastname@example.org
(END) Dow Jones Newswires
June 29, 2021 18:40 ET (22:40 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.