BRIEF: BrainAurora opens flat in Hong Kong trading debut
BrainAurora Medical Technology Ltd. (6681.HK) shares opened unchanged in their Hong Kong trading debut on Wednesday, after the company priced the shares at HK$3.22 apiece. The shares continued to trade in a narrow range after that.
The company said it sold approximately 181 million shares in the offering. The Hong Kong portion was oversubscribed by 10.4 times, while the international placement was only fully subscribed.
The company mainly provides cognitive impairment DTx products for hospitals and recorded combined losses of 1.67 billion yuan ($228 million) in the three and a half years from 2021 through the first half of last year. The listing raised net proceeds of about HK$500 million ($64 million), of which approximately 40% will be used for conducting further R&D, and 40% will go to assisting hospitals in establishing new cognitive centers.
By Lau Chi Hang
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