Two Chinese medical firms seek US$500m

Chinese medical robot maker Hurwa plans to raise US$200 million (HK$1.56 billion) in Hong Kong, while mainland medical platform Huayi is reportedly looking to raise US$300 million in the city.

Hurwa, a developer of medical robots used in surgeries based in Beijing, is working with China International Capital Corporation and CMB International Capital Corporation on a potential listing as soon as this year, Bloomberg reported, citing unnamed sources.

The company, which was founded in 2018, is also seeking to raise US$50 million to US$80 million in a pre-IPO private funding round, the report said.

Meanwhile, mainland medical platform Huayi is poised to raise US$300 million this year, according to Reuters' International Financing Review.

This came as two new stocks maek their debut in Hong Kong today after they both closed higher in the gray market last night.

The rural e-commerce platform Huitongda Network (9878), which was backed by Alibaba (9988), rose 4.65 percent at HK$45 in the gray markets on Futu Securities' platform ahead of its Hong Kong debut.

The Nanjing-based firm raised HK$2.1 billion after pricing its initial public offering at HK$43 apiece, the bottom of the indicative price range. The retail portion of the deal was only oversubscribed 0.67 times, while the institutional tranche was oversubscribed 1.05 times.

Also, shares of Clarity Medical (1406) ended up 1.25 percent to HK$1.62 in the gray market on Futu's platform.

The mainland ophthalmological specialist will also debut today to raise net proceeds of HK$163 million after pricing its IPO at HK$1.6, the bottom end of the marketed price range.

The retail portion of the IPO attracted an over-subscription of 5.17 times, with the international part posting a 0.13-times over-subscription.

In other news, medical device maker Meihua International Medical Technologies rose 29 percent in its trading debut as the first US initial public offering by a China-based company since the July regulatory backlash sparked by Didi Global's listing.

Meihua's shares, which sold for US$10 in the IPO, closed at US$12.92 Wednesday in New York trading, giving the company a market value of about US$305 million.