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Sisram Medical Ltd seeks IPO
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FOSUN Pharma’s subsidiary Sisram Medical Ltd, a leading provider of aesthetic treatment devices, plans to raise US$144 million to US$200 million via an initial public offering in Hong Kong.
Sisram aims to sell shares at an indicative price range of HK$8.88 (US$1.14) and HK$12.35 per share, and expects to trade on September 19, according to a stock exchange filing yesterday.
Sisram is seeking to sell 10 percent of its 99 million new shares in the Hong Kong IPO, with the rest to be sold on other global markets.
Fosun International and Fosun Pharma will hold around 51 percent of Sisram shares following the share sale, subject to the minimum offer price and full exercise of the over-allotment option.
“We will capture growth opportunities and add new revenue streams through acquisitions or strategic partnerships globally, so as to maximize the return to our shareholders,” Liu Yi, chairman and executive director of Sisram said.
Sisram will become the first Israeli firm to list in Hong Kong and after the listing the company will remain a subsidiary of Fosun’s pharmaceutical unit. It was first incorporated in Israel in 2013 and has been used as a vehicle for Fosun to acquire Israeli medical laser provider Alma Lasers.
Sisram’s net profit jumped 15.5 percent to US$5 million in the first three months of this year.
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