Meihua International Medical Technologies is poised to become the first Chinese company to list in the US in nearly seven months. A successful IPO could lay the groundwork for other Chinese issuers, after a regulatory crackdown by Beijing froze out mainland-based companies. The Jiangsu province based disposable medical-device maker is expected to price its IPO this week, according to the New York Stock Exchange website. Meihua is seeking to raise about US$57.5 million on Nasdaq from the sale of five million shares in a range from US$9 to US$11. It will trade under the symbol “MHUA” . There is an overallotment option of 750,000 shares in case of strong demand. Meihua submitted its first draft IPO registration to the US Securities and Exchange Commission in December 2020. Chinese companies had stayed away from New York since July, as they were caught between China’s regulatory clampdown and closer scrutiny by the US SEC on Chinese companies seeking to raise funds on Wall Street. Foreign investors’ demand for Chinese issuers’ IPOs remains to be seen following ride-hailing operator Didi Chuxing ’s controversial US$4.4 billion US IPO in June. The company went ahead with its IPO despite not having secured cybersecurity clearance back home. Consumer services firm Sentage Holdings was the last Chinese issuer to complete an IPO in the US, when it raised US$20 million on Nasdaq in July 2021, data from Refinitiv shows. Since then, the US market has not seen any IPOs from a China-based company. Meihua’s success could encourage others, such as wheelchair maker Jin Medical to go ahead with their US listing. Jin Medical, which is also from Jiangsu, is targeting about US$31.6 million from its IPO, according to its latest US filing. Smart parking systems provider Yi Po International Holdings also updated its US filing last month. The Jiangsu-based company plans to raise US$27 million on Nasdaq. Chinese regulators have targeted the data management and cybersecurity risks posed by internet platforms seeking to list offshore, requiring platforms with data of over one million users to seek cybersecurity clearance . While regulators still allow companies structured as variable interest entities (VIE) to list on offshore exchanges, they recently introduced a new “ negative list ” requiring specific industries to first seek a waiver before they can proceed with their overseas listing plans. “We do not believe that we are directly subject to these regulatory actions or statements, as we do not have a variable interest entity structure and our business does not involve the collection of user data,” Meihua said in the amended filing last week. While small Chinese health care players are pushing ahead with their US listing plans, bankers said there are still uncertainties about how the various new rules introduced over the past year would impact offshore IPOs by Chinese internet companies. Only nine companies completed their IPOs on Nasdaq in January, raising just US$1.8 billion, a decline of 86 per cent from about US$13 billion a year earlier, data from Refinitiv shows.