MARKETS & INVESTING | Staff Reporter, Hong Kong

Goldman-backed heart valve startup eyes Hong Kong IPO

Venus MedTech is said to be aiming to raise up to US$500m.

Bloomberg reports that Mainland-based medical device maker Venus MedTech is the latest in a series of healthcare firms eyeing a Hong Kong share sale that could raise around US$300m to US$500m. 

Also read: Hong Kong bourse reform taps on Chinese drug stocks 

Founded in 2009, Venus makes cardiac devices to treat congenital defects and valve degeneration for patients that are not candidates for open-heart surgery.

It counts Goldman Sachs Group, Qiming Venture Partners, Sequoia Capital China and Dinova Venture Capital amongst its backers. 

Also read: Can Hong Kong successfully lure biotech firms from Nasdaq?

The city is increasingly luring a wider range of healthcare firms after the stock exhcange operator introduced massive changes to its listing rules allowing biotech firms with no track record of profitability to list.

The Mainland's largest hot pot restaurant Chain Haidilao International Holding Ltd., is also reportedly planning to secure clearance for a Hong Kong share sale that could raise up to US$1b and easily score the title as the largest consumer IPO in 2018. 

Here’s more from Bloomberg

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