Mindray, a privately owned medical equipment-maker based in Shenzhen, is seeking to raise about HK$82 million through a flotation on the Growth Enterprise Market to expand in China and other developing countries.
The company will issue 112 million shares for public subscription. The initial public offering (IPO) will account for 28 per cent of the company's share capital.
The placing price will be in the range of 75 HK cents to 97 HK cents per share.
Trade is scheduled to begin on December 22.
President and chief executive officer Li Xiting said the growth in China's demand for electronic medical equipment would be fuelled by the reform of the health-care sector and the rapidly ageing population.
'The hospitals will have to mainly rely on medical services for income after they are no longer allowed to sell medicine . . . and they have to upgrade their equipment to stay competitive and viable,' Mr Li said.
He said the state was trying to transfer responsibility for the health care system from the government to the medical insurance system.