ULTRONICS International Holdings is to raise $53.56 million through a public listing as part of a move to beef up its range of scientific equipment and secure a wider market.
The medical equipment firm is offering 52 million shares at $1.03, representing a quarter of the enlarged share capital.
After the listing, Ultronics will have a market capitalisation of $214.24 million.
Profits for this year are forecast at $30 million plus.
Chairman Lee Man-kin said: ''Ultronics has been enjoying substantial growth over the past 12 years, especially in the medical equipment sector.'' ''This has been fuelled partly by China's good health care system.'' The Chinese Government has always set aside proper provisions to hospitals every year for new medical equipment.''