China-based Gaush Meditech Ltd reportedly made an initial public offering (IPO) at the Hong Kong Stock Exchange, priced at HKD 21.4 (USD 2.75) per share. That amounts to an HKD 672 million (USD 86.4 million) take-home.
Financial Performance
Gaush generated RMB 1.298 billion (USD 186 million) and RMB 578 million (USD 82.8 million) in revenues in 2021 and the first half of 2022, with net profits at RMB 192 million (USD 27.5 million) and RMB 53.26 million (USD 7.6 million) respectively. Ophthalmic medical devices made up the majority of its revenues. Product sales were RMB 719 million (USD 103 million) and RMB 275 million (USD 39.4 million) in 2021 and the first half of 2022, accounting for 55.4% and 47.5% of the total respectively.
Valuation and Financing
The company was valued at USD 770 million upon the completion of a Series B financing round at USD 100.5 million in March last year.Fineline Info & Tech
