Chinese heart valve device maker Venus Medtech nabs $308m in HK IPO

Hong Kong

Venus Medtech, a Chinese company that produces heart valve replacement devices, has raised HK$2.41 billion ($308 million) in an initial public offering (IPO) on the Hong Kong stock exchange on Tuesday, becoming the latest healthcare company to shore up investors’ confidence in the Asian financial hub.

The Chinese developer of cardiovascular devices priced 78.5 million shares at HK$33 apiece – the high end of the proposed range from HK$29 to HK$33. It received retail orders worth over HK$780 billion ($10 billion) for the IPO, which made it become the largest healthcare listing in the territory in 2019.

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