Cofoe Medical Technology has listed on the HKEX main board on 6 May, raising HKD1.06 billion (USD136 million) and has become the first home medical equipment maker to achieve a dual listing in the Chinese mainland and Hong Kong.
翱’惭别濒惫别苍测, Qiyuan Law Firm and Jingtian & Gongcheng provided legal support on Cofoe Medical’s Hong Kong debut, which follows its 2021 listing on SZSE’s ChiNext board.
In this IPO, Cofoe Medical issued 27 million shares at HKD39.33 per share, securing 12 cornerstone investors, including Lens Technology, Yufeng Technology and Yuanxin Private Equity Fund Management. Huatai International and BNP Paribas Securities acted as joint sponsors.
翱’惭别濒惫别苍测 advised Cofoe Medical on Hong Kong and US law, with partners Zhu Ke, Vincent Wang and Geng Ke leading the team. Qiyuan acted as PRC legal counsel, with senior partner Zou Bang participating.
Jingtian & Gongcheng acted as the underwriters’ Hong Kong and PRC legal counsel. Partner Chen Zejia led the Chinese mainland team, with partners Jiang Xiaoying and Xu Zheng participating. Partner Nicholas Chan led the Hong Kong team, with partner Catherine Chan participating.
Headquartered in Hunan and established in 2007, Cofoe Medical focuses on home healthcare devices and personal health management tools. Its products cover five segments: health monitoring, rehabilitation aids, respiratory support, medical care and traditional Chinese medicine physiotherapy.
According to Frost & Sullivan, Cofoe Medical ranked second among China’s home medical equipment companies by domestic revenue in 2024.
The prospectus stated that proceeds from the offering would mainly be used for global expansion, product R&D and technological innovation, expansion of domestic sales channels, brand promotion and marketing, and replenishment of working capital and general corporate purposes.
As part of its international strategy, the company plans to expand into markets including the UK, Italy, the US, Mexico, India, Thailand and the Philippines.
