MicroPort aims to raise $198 million from Hong Kong IPO

The medical equipment maker is the second Chinese medical play to tap the Hong Kong market this month, testing investor confidence in the country's healthcare reforms.

MicroPort Scientific, a Chinese medical equipment maker, will start taking orders from Hong Kong retail investors today for its up to HK$1.54 billion $198 million initial public offering after launching the institutional portion of the sale on Friday. The company plans to use the proceeds to fund product marketing and an expansion of its distribution network.

Microport is the second Chinese medical play to tap the Hong Kong equity market this month after China Medical System, a pharmaceutical product marketing company, which kicked off its $129 million IPO on Thursday last week. The two companies will test investor confidence in China's healthcare reforms, which are crucial for the growth prospects of...

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