Meihua Becomes China’s First U.S. IPO Since Didi Crackdown

(Bloomberg) — Medical device maker Meihua International Medical Technologies Co. priced its initial public offering at the mid-point of a marketed range, the first China-based company to sell shares in the U.S. since July after Didi Global Inc.’s IPO sparked a regulatory backlash.

Meihua sold 3.6 million shares, fewer than it had originally proposed, for $10 each Wednesday to raise $36 million, according to a statement. It had marketed as many as 5 million shares for $9 to $11. At the IPO price, Meihua would have a market value of $236 million based on the outstanding shares listed in its filings with the U.S. Securities and Exchange Commission.