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joined discussion · Sep 7 09:14

IPO Pricing | Mindray Medical listed today, receiving 436.37x subscription. The offer price was set at HK$15.42 per share, with a 5% allocation rate for one-lot applications.

Futu News, September 7:$MEDCAPTAIN (02041.HK)$Announced the allotment results: the offer price was set at HK$15.42 per share, with a total of 38.9106 million shares issued. Each lot consists of 100 shares, and the stock officially listed today.
During the public offering phase, Mindray Medical received 436.37x subscription. The final number of shares offered publicly was 3.8911 million, accounting for approximately 10% of the total shares offered. A total of approximately 57,305 valid applications were received, with about 15,492 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 5%.
Additionally, during the international placement phase, Mindray Medical received 2.35x subscription. The final number of internationally placed shares was 35.0195 million, equivalent to 90% of the total shares offered. Futu has compiled the relevant data in the table below:
Futu News, September 7:$MEDCAPTAIN (02041.HK)$Announced the allotment results: the offer price was set at HK$15.42 per share, with a total of 38.9106 million shares issued. Each lot consists of 100 shares, and the stock officially listed today. During the public offering phase, Mindray Medical received 436.37x subscription. The final number of shares offered publicly was 3.8911 million, accounting for approximately 10% of the total shares offered. A total of approximately 57,305 valid applications were received, with about 15,492 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 5%. Additionally, during the international placement phase, Mindray Medical received 2.35x subscription. The final number of internationally placed shares was 35.0195 million, equivalent to 90% of the total shares offered. Futu has compiled the relevant data in the table below: Company Overview Medtronic is a global medical device provider capable of meeting clinical needs across a wide range of departments, wards, and clinics within healthcare institutions, as well as community health centers, testing facilities, and home care settings. The company's products have reached over 140 countries and regions worldwide. In China, its products have covered more than 6,000 hospitals, including approximately 90% of Grade A Tertiary Hospitals, spanning 31 provinces, municipalities, and autonomous regions. The company has established a global business presence, with its medical device products distributed across Asia-Pacific, Europe, the Middle East and Africa, as well as the Americas...
Futu News, September 7:$MEDCAPTAIN (02041.HK)$Announced the allotment results: the offer price was set at HK$15.42 per share, with a total of 38.9106 million shares issued. Each lot consists of 100 shares, and the stock officially listed today. During the public offering phase, Mindray Medical received 436.37x subscription. The final number of shares offered publicly was 3.8911 million, accounting for approximately 10% of the total shares offered. A total of approximately 57,305 valid applications were received, with about 15,492 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 5%. Additionally, during the international placement phase, Mindray Medical received 2.35x subscription. The final number of internationally placed shares was 35.0195 million, equivalent to 90% of the total shares offered. Futu has compiled the relevant data in the table below: Company Overview Medtronic is a global medical device provider capable of meeting clinical needs across a wide range of departments, wards, and clinics within healthcare institutions, as well as community health centers, testing facilities, and home care settings. The company's products have reached over 140 countries and regions worldwide. In China, its products have covered more than 6,000 hospitals, including approximately 90% of Grade A Tertiary Hospitals, spanning 31 provinces, municipalities, and autonomous regions. The company has established a global business presence, with its medical device products distributed across Asia-Pacific, Europe, the Middle East and Africa, as well as the Americas...
Futu News, September 7:$MEDCAPTAIN (02041.HK)$Announced the allotment results: the offer price was set at HK$15.42 per share, with a total of 38.9106 million shares issued. Each lot consists of 100 shares, and the stock officially listed today. During the public offering phase, Mindray Medical received 436.37x subscription. The final number of shares offered publicly was 3.8911 million, accounting for approximately 10% of the total shares offered. A total of approximately 57,305 valid applications were received, with about 15,492 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 5%. Additionally, during the international placement phase, Mindray Medical received 2.35x subscription. The final number of internationally placed shares was 35.0195 million, equivalent to 90% of the total shares offered. Futu has compiled the relevant data in the table below: Company Overview Medtronic is a global medical device provider capable of meeting clinical needs across a wide range of departments, wards, and clinics within healthcare institutions, as well as community health centers, testing facilities, and home care settings. The company's products have reached over 140 countries and regions worldwide. In China, its products have covered more than 6,000 hospitals, including approximately 90% of Grade A Tertiary Hospitals, spanning 31 provinces, municipalities, and autonomous regions. The company has established a global business presence, with its medical device products distributed across Asia-Pacific, Europe, the Middle East and Africa, as well as the Americas...
Company Overview
Medtronic is a global medical device provider capable of meeting clinical needs across a wide range of departments, wards, and clinics within healthcare institutions, as well as community health centers, testing facilities, and home care settings. The company's products have reached over 140 countries and regions worldwide. In China, its products have covered more than 6,000 hospitals, including approximately 90% of Grade A Tertiary Hospitals, spanning 31 provinces, municipalities, and autonomous regions.
Source: Prospectus
Source: Prospectus
The company has established a global business presence, with its medical device products distributed across Asia-Pacific, Europe, the Middle East and Africa, and the Americas. It has strategically set up five R&D centers and six production centers in China and the UK. To enhance its international service capabilities, the company maintains local representative offices in strategic markets such as the UK, Netherlands, Belgium, Turkey, India, Thailand, Indonesia, Mexico, Brazil, and Colombia, ensuring timely and localized support for its global customer base.
Financial Overview
Mindray's revenue increased from RMB 1,313.3 million in 2023 to RMB 1,619.2 million in 2025, and rose from RMB 354.7 million for the three months ended March 31, 2025, to RMB 422.3 million for the three months ended March 31, 2026. The company's gross profit margin improved from 49.6% in 2023 to 53.7% in 2025, and further improved to 54.3% for the three months ended March 31, 2026, reflecting an optimized product mix and enhanced economies of scale.
Source: Prospectus
Source: Prospectus
Use of Proceeds
Regarding the use of proceeds, Mindray expects net proceeds from the global offering to be approximately HK$ 496 million (calculated at an offer price of HK$ 15.42, assuming the over-allotment option is not exercised). According to the prospectus, Mindray intends to allocate the funds raised from the global offering for the following purposes:
Approximately 35% will be used for ongoing and planned R&D to further enrich the company's product pipeline and build a competitive product portfolio from 2026 to 2028; approximately 20% will be used to develop the company's manufacturing centers and expand production capacity; approximately 20% will be used to further enhance the company's sales and marketing capabilities; approximately 10% will be allocated for potential strategic investments and acquisitions globally; approximately 5% will be used to upgrade the company's IT infrastructure and digital platforms; and approximately 10% will be used for working capital and other general corporate purposes.
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Futu News, September 7:$MEDCAPTAIN (02041.HK)$Announced the allotment results: the offer price was set at HK$15.42 per share, with a total of 38.9106 million shares issued. Each lot consists of 100 shares, and the stock officially listed today. During the public offering phase, Mindray Medical received 436.37x subscription. The final number of shares offered publicly was 3.8911 million, accounting for approximately 10% of the total shares offered. A total of approximately 57,305 valid applications were received, with about 15,492 applications accepted. The approximate percentage of allocated shares for one-lot applications relative to the total applied shares was 5%. Additionally, during the international placement phase, Mindray Medical received 2.35x subscription. The final number of internationally placed shares was 35.0195 million, equivalent to 90% of the total shares offered. Futu has compiled the relevant data in the table below: Company Overview Medtronic is a global medical device provider capable of meeting clinical needs across a wide range of departments, wards, and clinics within healthcare institutions, as well as community health centers, testing facilities, and home care settings. The company's products have reached over 140 countries and regions worldwide. In China, its products have covered more than 6,000 hospitals, including approximately 90% of Grade A Tertiary Hospitals, spanning 31 provinces, municipalities, and autonomous regions. The company has established a global business presence, with its medical device products distributed across Asia-Pacific, Europe, the Middle East and Africa, as well as the Americas...
Edited by Vincent
Risk Disclaimer: The above content only represents the author's view. It does not represent any position or investment advice of Futu. Futu makes no representation or warranty.Read more
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