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Medlive Technology Plans to Raise Up to US$543 Million in Hong Kong IPO

06/29/2021 | 04:40pm EDT

By P.R. Venkat

Medlive Technology Co. is planning to raise up to 4.22 billion Hong Kong dollars (US$543.4 million) through an initial public offering in Hong Kong.

The Beijing-based online medical information and marketing platform plans to sell 155.10 million shares at between HK$24.10-HK$27.20 per share, Medlive said Wednesday.

Final pricing of the shares are expected to take place on July 7 and shares will start trading on the Hong Kong exchange from July 15, the company said.

Medlive had said earlier that it intends to use the proceeds to expand its business, invest in technology and make strategic investments or acquisitions.

The company generates revenue primarily from marketing services to pharmaceutical and medical device companies using the platform. Its major shareholders include Tokyo-based M3 Inc., an online medical services provider and an affiliate of Sony Group Corp.

Goldman Sachs, CICC are among banks advising Medlive on the IPO.

Write to P.R. Venkat at venkat.pr@wsj.com

(END) Dow Jones Newswires

06-29-21 1840ET

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL 0.10% 34798 Delayed Quote.13.69%
M3, INC. -0.37% 8550 End-of-day quote.-12.24%
SONY GROUP CORPORATION 5.18% 13000 End-of-day quote.26.40%
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