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Angelalign estimates $2.51b net proceeds in global offering

Its offer price ranges from $147-173 per share.

Angelalign Technology Inc. has estimated approximately $2.51b in net proceeds, assuming the midpoint offer price of $160 per share.

Its global offering comprised of 16.82 million shares, of which 1.68 million are for Hong Kong; whilst 15.14 million are under the international offering

Its offer price ranges from $147-173 per share.

Angelalign noted the biggest shares of the net proceeds will be earmarked for its Chuangmei Centre and its research and development capability.

Some $1b, or 39.9% of the net proceeds, will fund the construction of the centre which will house its manufacturing facilities and R&D centre. Its R&D initiatives, meanwhile, will receive some $460.1m, or 18.3% of the proceeds.

Around $271.5m will fund the development of a flexible and scalable intelligent IT system and $264.1m more for the expansion of its in-house sales team.

The remaining fund will be used for marketing and branding activities ($240.8m), medical services optimization ($155.5m), and other general corporate purposes ($118.9m).

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