, Hong Kong

Zylox-Tonbridge estimates $2.37b gains in global offering

The company has set its offer price at $42.7 per share.

Zylox-Tonbridge Medical Technology Co. Ltd. is expecting to gain some $2.37 billion in net proceeds from the global offering after it set its offer price at $42.7 per share.

The company will be offering 60 million H Shares, of which 30 million will be for Hong Kong, whilst the remaining will be under international offering.

Zylox-Tonbridge plans to earmark 40% of the net proceeds, or $959.5 million, to its 38 other products and pipeline candidates in order to develop their product portfolio to provide a total solution.

Some 37% or $888.1 million will be allocated to its core products, namely Thrombite CRD and Ultrafee DCB; whilst 11% or $262.2 million will fund ongoing research and development (R&D), production, and commercialization of its five major products.

This includes the neurovascular embolization coil, flow diverter, retrievable inferior vena cava filter, peripheral venous stent system, and suture-mediated closure system. Four of which are already in the clinical stage and one is in registrational stage.

The remaining portion will be for the upgrade of its R&D facility ($71.9 million), potential strategic acquisitions, investments, in-licensing or collaborations ($95.9 million), and for working capital and general corporate purposes ($119.9 million).

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