By Ronda Fears
Memphis, Sept. 27 - Medtech concern Mindray Medical International, Inc. raised $143.1 million from its initial public offering of 10.6 million American Depositary Shares at $13.50 each, above price talk of $10 to $12, via joint lead managers Goldman Sachs and UBS Investment Bank.
Another 9.4 million ADS were sold at the same price by Well Elite Group Ltd., Able Choice Investments Ltd. and Dragon City International Investment Ltd. In addition, Xu Hang and Li Xiting - joint chief executive officers of Mindray - are also offering 500,000 ADS available as a greenshoe.
Shenzhen, China-based Mindray, which makes patient-monitoring devices, ultrasound machines and diagnostic equipment, plans to use proceeds to build a new headquarters, to expand manufacturing facilities and for general corporate purposes.
| Issuer: | Mindray Medical International, Inc.
|
| Issue: | Initial public offering of American Depositary Shares
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| Gross proceeds: | $143.1 million
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| Net proceeds: | $129 million
|
| Shares: | 10.6 million
|
| Greenshoe: | 2 million shares
|
| Price: | $13.50 per share
|
| Price talk: | $10 to $12 per share
|
| Joint lead managers: | Goldman Sachs and UBS Investment Bank
|
| Pricing date: | Sept. 25
|
| Settlement date: | Sept. 29
|
| Ticker: | NYSE: MR
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