$BETTERS MED (06678.HK)$A global offering of 248 million shares is proposed from September 22nd to September 27th, of which Hong Kong shares account for 10 per cent, international placements account for 90 per cent, and 15 per cent of the over-allotment options. The offering price ranges from HK $1.40 to HK $1.72 per share, with an admission fee of HK $3474.67 per share. Bank of China International and Sino-Thai International served as co-sponsors, and the shares are expected to be listed on October 5.
It is reported that Baide Medical is one of the leading developers and providers of microwave ablation (microwave ablation) medical devices for minimally invasive treatment of tumors in China. According to Frost Sullivan, the company is the largest supplier of microwave ablation medical devices for the treatment of thyroid and breast nodules in China in terms of sales revenue and sales volume of microwave ablation needles in 2021. In addition, the company is the third largest supplier of microwave ablation medical devices in China in terms of sales revenue in 2021.
The use of the funds raised: 41.0% will be used to expand and deepen the group's product portfolio, upgrade the group's medical license and expand the R & D team; 38.0% will be used to selectively seek strategic acquisition, investment or business collaboration opportunities that can complement the group's existing product portfolio, sales and distribution network, technology and create synergy for the group's business growth. 8.0% will be used to expand the Group's position in foreign and emerging markets through the establishment of overseas offices; 3.0% will be used to purchase automation machinery and equipment to improve the automation level of the Group's production line; and 10.0% will be used for additional working capital and other general corporate purposes.