China-based WORK Medical Technology Group Ltd has priced its initial public offering (IPO) at USD per share for a total of 2,000,000 ordinary shares. The shares have received approval for listing on the Nasdaq Capital Market and are set to begin trading on August 23, 2024, under the ticker symbol “WOK.”
The IPO is expected to generate gross proceeds of approximately USD 8 million, which will be allocated towards upgrading production equipment, expanding production capacity, developing masks and other medical consumables, enhancing product marketing, acquiring patents, and supporting general corporate needs.
WORK Medtech specializes in the development and manufacturing of Class I and II medical devices, distributing its disposable medical products through subsidiaries in China. The company offers a diverse portfolio of 21 products, including customized and multifunctional masks, with sales covering 34 provincial-level regions in China and exports to over 30 countries. WORK Medtech has achieved multiple quality-related manufacturing certifications and has registered 17 products with the U.S. Food and Drug Administration, facilitating entry into the U.S. market.- Flcube.com
