China-based Shanghai MicroPort Endovascular MedTech Co., Ltd (SHA: 688016) has announced plans to raise up to RMB 1.809 billion (USD 260 million) through a private placement of 21,593,444 shares. The funds raised will be allocated to several key areas, including the construction of global headquarters and the advancement of innovation and industrialization plan projects.
Investment in Global Headquarters and Innovation Projects
The company intends to use the proceeds to bolster its global presence by developing state-of-the-art headquarters. This investment is expected to enhance the company’s operational efficiency and support its ongoing innovation efforts.
Peripheral Vascular Intervention and Tumor Intervention Device Research
A significant portion of the funds will be directed towards research and development in the fields of peripheral vascular intervention and tumor intervention devices. This R&D focus aims to expand MicroPort’s product portfolio and strengthen its position in the medical device market.
Supplementary Working Capital
In addition to the aforementioned projects, the capital raised will also serve as supplementary working capital, ensuring the company has the financial flexibility to pursue new opportunities and manage day-to-day operations effectively.-Fineline Info & Tech
