Meihua International Medical Technologies, a Chinese provider of disposable medical devices, announced terms for its US IPO on Thursday.
The Yangzhou, China-based company plans to raise $50 million by offering 5 million shares at a price range of $9 to $11. At the midpoint of the proposed range, Meihua International Medical Technologies would command a market value of $250 million.
Meihua International states that it is a provider of Class I, II, and III disposable medical devices. The company serves hospitals, pharmacies, medical institutions, and medical equipment companies in China as well as more than 30 countries internationally across Europe, North America, South America, Asia, Africa, and Oceania. Meihua provides more than 800 products for domestic sales and 120 products for exports.
Meihua International Medical Technologies was founded in 1990 and booked $94 million in sales for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol MHUA. Prime Number Capital and Shengang Securities are the joint bookrunners on the deal.
