Health-care players vying for cash in HK

Business | Avery Chen 25 Jan 2021

At least six firms will launch Hong Kong initial public offerings this week.

Five health-care firms are vying to sell shares this week, in addition to short-video sharing firm Kuaishou Technology's US$6 billion (HK$46.8 billion) IPO.

Mainland genetic testing company Suzhou Basecare Medical Corporation is looking to raise up to US$250 million while New Horizon Health, a Chinese maker of home test kits for colon cancer, is targeting US$300 million. And MicroPort CardioFlow Medtech Corporation, a spinoff of Microport Scientific (0853), is looking to raise US$300 million while Hong Kong-based Jacobson Pharma (2633) is planning to spin-off drug maker JBM (Healthcare).

Separately, search engine giant Baidu and video platform Bilibili, which are listed in the United States, have filed for secondary listings to raise a combined US$6.5 billion.

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