IVD Medical (華檢醫療) Trading Update - Concentrated Shareholding, Tiny Adjusted Free-Float

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<a href="https://www.smartkarma.com/entities/ivd-medical-holding-ltd" target="_blank" data-smartkarma-citation="entities:28143:1" rel="noopener">IVD Medical (1931 HK)</a> (IVDM) is looking to raise up to US$157m in its upcoming IPO.
IVDM is the result of the Original Group (Shanghai IVD distribution) acquiring Vastec (China Tier 1 IVD distributor) in January 2019. Overall, before the acquisition, both companies have been growing their revenue decently from FY16 - 18. ASP of Vastec's IVD reagents, which is the revenue driver, has also been increasing steadily.
However, the company did not provide sensible reason on why there was a need to engage an agent for the procurement of the IVD products from Sysmex and there were little disclosure surrounding these transactions. Furthermore, much of the IPO proceeds will not be used for expansion.

IVD Medical (1931 HK) (IVDM) is looking to raise up to US$157m in its upcoming IPO.
IVDM is the result of the Original Group (Shanghai IVD distribution) acquiring Vastec (China Tier 1 IVD distributor) in January 2019. Overall, before the acquisition, both companies have been growing their revenue decently from FY16 - 18. ASP of Vastec's IVD reagents, which is the revenue driver, has also been increasing steadily.
However, the company did not provide sensible reason on why there was a need to engage an agent for the procurement of the IVD products from Sysmex and there were little disclosure surrounding these transactions. Furthermore, much of the IPO proceeds will not be used for expansion.

IVD Medical (華檢醫療) IPO Review - More than 70% of IPO Proceeds Used for Dividend and Acquisition