Surgical robot maker Shenzhen Edge Medical Co. Ltd. (2675.HK) announced last Friday that it is exploring a second listing on China’s domestic A-share markets in Shanghai and Shenzhen, just months after listing in Hong Kong. The company said it has appointed a pre-listing tutoring institution and submitted its registration for listing guidance on Sept. 11.
Edge Medical said the proposed A-share listing remains subject to market conditions, as well as approvals from its board, shareholders and regulators.
Shenzhen Edge Medical listed in Hong Kong in January this year. Its revenue rose 113.8% year-on-year to 319 million yuan ($48 million) in the first half of the year, mainly driven by increased sales of its surgical robots. Its loss for the six-month period narrowed 78.4% to 19.25 million yuan from 89.1 million yuan a year earlier.
Following the announcement, Shenzhen Edge Medical shares fell 7.5% on Monday to close at HK$34.24, about 21% below the company’s IPO price of HK$43.24.
By Lee Shih Ta
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