Medical-Device Maker Looks for New Life With $1 Billion IPO
Shenzhen Mindray Bio-Medical Electronics Co. Ltd. has filed to raise more than 6 billion yuan ($935 million) through a listing on China’s Nasdaq-style ChiNext board, becoming the latest Chinese firm to abandon a New York listing to seek a higher valuation by relisting at home.
The filing comes after the medical-device maker abandoned an earlier plan to list in Shenzhen, one of China’s two main boards. It took that action in February after disclosing an intangible-assets ratio that was higher than levels permitted by the regulator due to a change in accounting rules. Since then, the regulator has lowered that ratio to just under the maximum allowable level of 20%.
- 1China Cancels Trade Talks With U.S.
- 2Bad Bank’s New Boss Begins by Erasing Fallen Predecessor’s Legacy
- 3Rape Investigation for Internet Tycoon Richard Liu Wraps Up
- 4Merck Slashes Key Cancer Drug Price for China
- 5 Caixin Explains: Why Urbanites are Choosing Pickles and Instant Noodles Over Avocados and Starbucks
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas