The surgical robot company EDGE MEDICAL is starting its IPO today, attracting Tencent and 13 other institutional investors

Advanced Surgical Robot Company EDGE MEDICAL TECHNOLOGY (02675.HK) is conducting an IPO in Hong Kong, planning to globally issue 27,722,200 H shares, with 10% (2,772,300 shares) allocated for public sale in Hong Kong and 90% (24,949,900 shares) for international placement. The offer price is set at HKD 43.24 per share, aiming to raise nearly HKD 1.2 billion. The minimum trading unit is 100 shares, with an entry fee of approximately HKD 4,367.61. The subscription period runs from today (December 30) until next Monday (January 5), with listing expected on next Thursday (January 8), co-sponsored by Morgan Stanley and GF Securities.

Based on the offer price of HKD 43.24, the net proceeds are estimated to be around HKD 1.117 billion, of which approximately 23% will be used for the development of EDGE MEDICAL's multi-port surgical robots, about 19% for the development of EDGE MEDICAL's single-port surgical robots, around 20% for the commercialization of core products, about 10% for capacity expansion, approximately 8% for other products and products under development, around 10% for potential strategic acquisitions and investments, and the remaining 10% for working capital and general corporate purposes.

EDGE MEDICAL has introduced 15 cornerstone investors for this IPO in Hong Kong, including Huang River Investment under Tencent (00700.HK), Abu Dhabi Investment Authority (ADIA), UBS AM Singapore, OrbiMed Genesis, Huaxia Fund (Hong Kong), LYFE Capital Fund IV, Greater Bay Area Common Home Investment, China Alpha, Tekful Limited, ICSA, Sage Partners Master Fund, Panjing Fund, and Infini, collectively subscribing for approximately HKD 584 million worth of shares, equivalent to about 13,494,600 shares, accounting for approximately 48.7% of the shares offered in this sale