Sanyou Medical stages RMB 1b STAR IPO



China’s Shanghai Sanyou Medical Co., Ltd announced the initial public offering of 51,333,500 shares priced at RMB 20.96 (USD 2.95) each to the Science and Technology Innovation Board (STAR) hosted by the Shanghai Stock Exchange (SSE). The IPO closed for subscriptions at 3pm local time on March 26, and took home more than RMB 1 billion (USD 141 million) for the company.

Sanyou Medical is a device start-up founded in 2005. Its mainstay products are spinal and trauma implants, with posterior spinal internal fixation system Adena the most profitable, according to the IPO prospectus.

Reference:
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