September 22, 2022, according to the company announcement$BETTERS MED (06678.HK)$Investment Holdings Limited (hereinafter referred to as: Pak Tak Medical) plans to be listed on the main board of Hong Kong and will be listed from September 22 to September 27, 2022. The sponsors are Zhongtai International Finance Co., Ltd., Bank of China International Asia Co., Ltd. The company had previously submitted its statement on April 7, 2022, and the IPO is expected to issue 248 million shares, including a public offering of 24.8 million shares in Hong Kong, an international offering of 223 million shares and an over-allotment of 37.2 million shares.
The offering price ranges from HK $1.40 to HK $1.72 per share. The listing date is expected to be October 5, 2022, with 2000 shares per share.
In terms of capital use, 41.0% will be used to expand and deepen the company's product portfolio, upgrade the company's medical license and expand the R & D team; 38.0% will be used to selectively seek strategic acquisition, investment or business collaboration opportunities that can complement the company's existing product portfolio, sales and distribution network, technology and create synergies for the company's business growth. 8.0% will be used to expand the company's position in foreign and emerging markets through the establishment of overseas offices; 3.0% will be used to purchase automation machinery and equipment to improve the automation level of the company's production line; and 10.0% will be used for additional working capital and other general corporate purposes.
Baide Medical Investment Holdings Co., Ltd. was established on January 22, 2021. The company is one of the leading developers and providers of microwave ablation medical devices for minimally invasive treatment of tumors in China. The company's proprietary microwave ablation medical devices are used to treat benign and malignant tumors with increasing incidence in China, including thyroid nodules, liver cancer, lung cancer and breast nodules.
According to Frost Sullivan, in terms of sales revenue and sales volume of microwave ablation needles in 2021, the company is the largest supplier of microwave ablation medical devices for the treatment of thyroid and breast nodules in China. In addition, in terms of sales revenue in 2021, the company is the third largest supplier of microwave ablation medical devices in China. According to Frost Sullivan, the company is the first company in China to successfully register its proprietary microwave ablation medical devices for the treatment of thyroid nodules as Class III medical devices. On the last feasible date, the company has obtained the third type of medical device registration certificate for microwave ablation of medical devices for liver cancer and thyroid nodules.
From January 1, 2022 to May 31, 2022, the company's operating income was 63.764 million yuan, with a net profit of 20.976 million yuan. In fiscal year 2020 and fiscal year 2021, the revenue of the company was 118 million yuan and 189 million yuan respectively, and the net profit was 46.348 million yuan and 74.205 million yuan respectively.
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