Shanghai INT Medical Instruments Raises HK$884 Million Through H-Share Placing to Fund Expansion

The latest update is out from Shanghai Kindly Medical Instruments Co., Ltd. Class H ( (HK:1501) ).

Shanghai INT Medical Instruments Co., Ltd. has completed a placing of 35.2 million new H shares under its general mandate at HK$26.00 per share, raising gross proceeds of about HK$915.2 million and net proceeds of approximately HK$884.31 million. The new shares, placed with at least six independent investors, represent roughly a quarter of the company’s enlarged H-share capital and 16.67% of its total issued share capital, without any single placee becoming a substantial shareholder. The company plans to use the bulk of the funds to drive expansion of its medical device product portfolio through investments and potential acquisitions, while the remainder will be allocated to repaying interest-bearing bank borrowings and bolstering working capital and general corporate purposes, with full deployment of the proceeds expected by 2027, underscoring its growth ambitions and balance sheet strengthening efforts.

The most recent analyst rating on (HK:1501) stock is a Buy with a HK$35.00 price target. To see the full list of analyst forecasts on Shanghai Kindly Medical Instruments Co., Ltd. Class H stock, see the HK:1501 Stock Forecast page.

More about Shanghai Kindly Medical Instruments Co., Ltd. Class H

Shanghai INT Medical Instruments Co., Ltd. (Shanghai Kindly Medical Instruments) is a PRC-incorporated medical device company focused on developing and supplying interventional and other medical instruments. The group operates in the broader medical devices industry with a strategy centered on expanding its product portfolio and enhancing its presence in both domestic and international healthcare markets.

Average Trading Volume: 38,783

Technical Sentiment Signal: Buy

Current Market Cap: HK$5.68B

For detailed information about 1501 stock, go to TipRanks’ Stock Analysis page.