China: BGI Genomics completes $250m IPO; Lenovo Capital backs Imsight Medical

U.S. 100 dollar banknotes and Chinese 100 yuan banknotes are seen in this picture illustration in Beijing, China, January 21, 2016. REUTERS/Jason Lee

BGI Genomics Ltd has made its IPO debut on the Shenzhen Stock Exchange raising $250 million, while Lenovo Capital led the series A round in medical imaging startup Imsight Medical.

BGI Genomics raises $250m in IPO debut

BGI Genomics Co Ltd made its listing debut, raising $250 million in its initial public offering debut on the ChiNext board in Shenzhen, the China Money Network reported.

The gene sequencing firm issued shares at RMB13.64 per share, indicating a price-earning ratio of 22.99.

BGI Genomics founder Wang Jian is projected to become a billionare as a result of the IPO, putting his net-worth at around $960 million to $1.6 billion, based on the trading price range predicted by Chinese brokerage firms.

Earlier, BGI Genomics attempted to go public in the US and Hong Kong but failed in its efforts. It also fell short in its bid to achieve an A-share float via reverse merger.

Founded in the late 1999, BGI generates most of its income from fertilization and health services, basic research services, complex disease services and drugs research services.

BGI Genomics is backed by Shenzhen Venture Capital Co Ltd, Yunfeng Capital, State Development & Investment Corp, and Shenzhen Co-Win Venture Capital Investments Ltd.

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Lenovo Capital leads series A in Imsight Medical

Lenovo Group Ltd’s venture capital arm Lenovo Capital and Incubator Group, has led a $3 million (RMB20 million) series A round in Imsight Medical, an early-stage startup developing artificial intelligence-assisted medical imaging analysis tools.

Founded in February 2017, Imsight Medical uses computer medical image analysis and AI in its diagnosis and treatment programmes meant to reducing the time doctors need to spend on cumbersome, and repetitive work.

The startup plans to use its fresh capital to improve technology, product development, and expansion of its core team, the CMN reported.

Based in Shenzhen and Hong Kong, Imsight Medical originally started as part of Lenovo Capital’s incubator program as part of Lenovo Group’s big data and smart healthcare initiatives.

Lenovo Capital introduced Imsight Medical to key partners as well as major hospitals in Guangzhou and Sichuan province.

The Hong Kong Innovation and Technology Commission previously provided funding in Imsight Medical.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.