Chuanmei Medical A-share IPO will challenge the GEM IPO record

One of China's largest medical device suppliers, Myer Medical, is expected to challenge China's GEM IPO fundraising record today with a vote by the Development and Audit Commission, Bloomberg reported.
IPO application from Shenzhen Meirui Biomedicine Electronics Co., Ltd. has been approved by the Securities and Futures Commission's Development and Audit Commission this morning, according to people familiar with the matter. The company seeks to raise about Rmb6.34bn, according to the Meirui Biomedical Prospects (declaration) published on the CSRC's website.
' predecessor, Murray International, listed in New York and was later privatised and de-listed. Murray also became the latest company to be allowed to return to China after being de-released from the U.S. market, following the 360s and the drug Mingkangde. The lead underwriter of Murray Biomedicine is Huatai United Securities.
Mari's IPO comes at a time when China's pharmaceutical listed companies have been hit by a vaccine scandal, with the biggest gainer in the year, Changsheng Bio, up more than 130 per cent, falling for a seventh straight session and public trust in Chinese pharmaceutical products once again facing a crisis, plunging the best-performing A-share pharmaceutical sector this year.
, the shares of the A-listed company that participated in Murray Biomedicine rose sharply in the afternoon after Bloomberg reported the news of my medical meeting. Shenzhen Energy rose 4.4 per cent in the afternoon, its biggest gain since March 8, while Mass Transit rose 4.6 per cent to its highest level since June 19, with its B-shares up 2.5 per cent and Volkswagen up 2.4 per cent.
china Securities Regulatory Commission did not immediately respond to a fax from Bloomberg News seeking comment. Murray Biomedicine did not respond to calls from Bloomberg seeking comment and did not immediately return emails.Challenge GEM IPO Record
According to the IPO filings last disclosed by Meirui Medical in May, the company intends to issue no more than 122 million shares and raise funds to invest in eight projects, including repayment of bank loans and supplementary working capital projects, marketing service system upgrades, and to invest 6.34 billion yuan in the fund raised.
means that Murray Medical will likely break the previous record of $5.46 billion raised by the Ningde era. However, the final actual size of the IPO in the Ningde era was significantly reduced from the prospectines.
2017 operating income of 11.17 billion yuan, the company's production monitor, blood cell analyzer and color super products, the prospect syndicator statement called it "the largest medical device manufacturer in China." Of the 37 A-share listed medical device companies, Xinhua Medical, the highest-earning company in 2017, earned 9.92 billion yuan, according to Bloomberg data.the risk of a trade war
Andre Medical also faces the risk of a trade war between China and the United States. "If the U.S. imposes a 25 percent tariff on Chinese medical device products and the company is unable to transfer costs to downstream customers, it could have a negative impact on the profitability of the products the company sells in the U.S.," Mr. Murray said in a May filing.
on the eve of the 2015 Chinese stock market disaster, Myer International launched the privatization of American Depositarius shares listed on the New York Stock Exchange and de-listed them from the United States in March 2016 at a cost of approximately $2.46 billion, according to the filing.
attracted by the high valuations of The Chinese stock market, there was a record wave of privatizations of Chinese-listed chinese stocks in the US in 2015, when 38 Chinese stocks announced a total of $37bn in privatisation deals. (Sina Finance)