MED EIBY Holding, a Chinese medical device manufacturer and retailer, filed on Friday with the SEC to raise up to $20 million in an initial public offering.
The Shenzhen, China-based company plans to raise $20 million by offering 4 million shares at $5. At the proposed price, MED EIBY Holding would command a market value of $83 million.
MED EIBY operates business through two entities in China, namely Shenzhen Bestman and Nanjing Yonglei. Shenzhen Bestman mainly manufactures medical devices, which it sells both domestically and internationally. Nanjing Yonglei mainly exports medical devices and sells medical devices manufactured by Shenzhen Bestman. Shenzhen Bestman produces a range of more than 35 devices across four categories: ultrasonic doppler devices, warmer and syringe destroyer products, epidemic prevention products, and health screening products.
MED EIBY Holding was founded in 2001 and booked $3 million in sales for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol BSME. Boustead Securities is the sole bookrunner on the deal.
