China Medical System aims to raise $129 million from Hong Kong IPO

The pharmaceutical services company fights for investor attention along with 10 other Chinese companies that plan to launch small to mid-size share sales in Hong Kong or the US this month.

China Medical System Holdings, a Chinese pharmaceutical services company, is looking to raise up to HK$1 billion $129 million from a Hong Kong initial public offering to fund its business expansion.

The company is joining more than 10 other Chinese companies with plans to launch small to mid-size new share sales in the Hong Kong or US equity markets this month, suggesting there will be a fight for investor appetite for mid-cap Chinese enterprises.

The competition will be even tougher thanks to bigger names such as AIA Group and Xinjiang Goldwind, which are expected to resume the IPOs that they called off earlier in the year. The pan-Asian insurer halted its plans...

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