BenQ BM Holding Cayman Corp (BBHC, 明基醫院集團) plans to list its shares in Hong Kong, its parent company Qisda Corp (佳世達) said on Thursday, as it aims to expand the group’s medical service business and grow its revenue and profits.
Qisda’s board of directors on Thursday green-lighted BBHC’s initial public offering (IPO) proposal for the Hong Kong stock exchange’s main board, which is subject to shareholder and regulatory approval. An extraordinary shareholders’ meeting is to take place on March 14, the company said in a statement, without disclosing how much it is seeking to raise from the IPO.
The company’s medical operations have seen stable growth in recent years thanks to sales contributions from hospitals and its medical supply business, with product lines including dialyzers, ultrasound equipment and medical consumables.
Photo: Chen Mei-ying, Taipei Times
BBHC is the largest business unit among Qisda’s medical operations compared with a dozen of other units, the company said.
In China, BBHC operates Nanjing BenQ Medical Center (南京明基醫院) and Suzhou BenQ Medical Center (蘇州明基醫院) in Jiangsu Province, and invests in Guigang Donghui Hospital (貴港東暉醫院) in Guangxi Province, it said.
“With the Hong Kong listing, BBHC can raise funds through multiple channels to strengthen its working capital and optimize its financial structure,” Qisda said. “This will help it further expand the scale of hospitals, increase the number of beds, and introduce special medical teams and equipment, among others.”
FINANCIAL HEALTH
The IPO is expected to increase BBHC’s industry visibility and attract more talent, Qisda said.
It is also conducive to enhancing the group’s financial health and the interests of shareholders, it said.
Qisda, whose business operations includes information technology and medical services, smart business solutions and networking and communications applications, reported that its consolidated revenue last year fell 15 percent year-on-year to NT$203.9 billion (US$6.485 billion).
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