China-based diabetes specialist MicroTech Medical (Hangzhou) Co., Ltd (HKG: 2235) has announced plans to conduct an initial public offering (IPO) of 93.46 million shares on the Shanghai Stock Exchange’s Sci-Tech Innovation Board (STAR). The listing price remains unknown at this stage.
Company Profile
Founded in 2011, MicroTech Medical specializes in diabetes management solutions. Its core product, the Equil stick insulin pump, is a semi-disposable use patch insulin pump approved in Europe and China in June and September 2017, respectively. The company is currently exploring its use in children and teenagers. MicroTech made its debut on the Hong Kong Stock Exchange last October, raising HKD 1.979 billion (USD 253 million).
Future Implications
The planned IPO on Shanghai’s STAR Market marks a significant step for MicroTech Medical in expanding its capital base and enhancing its market presence. This move is expected to support the company’s ongoing research and development efforts, as well as its strategic initiatives in the diabetes management sector.-Fineline Info & Tech
