COFOE MEDICAL (01187) initiated its public share offering from April 27 to 30, with plans to issue 27 million H shares. Ten percent of the offering is allocated for the Hong Kong public subscription. The maximum offer price is set at HK$39.33 per share, aiming to raise up to HK$1.06 billion. Each board lot consists of 100 shares, requiring an initial investment of HK$3,972.7. The company is expected to commence trading on May 5. Huatai International and BNP Paribas are acting as joint sponsors.
As of noon on April 30, the public offering portion attracted HK$32.74 billion in margin financing applications. Based on the fundraising target of HK$106 million for the public offering, this represents an oversubscription rate of 307.3 times.
According to the prospectus, COFOE MEDICAL is one of China's largest home medical device enterprises. Since its establishment in 2007, the company has focused on the home medical device industry, consistently dedicated to providing convenient solutions for consumers and patients seeking high-quality and advanced home medical equipment. As of the latest practicable date, COFOE MEDICAL's product portfolio encompasses over 200 product categories and tens of thousands of product specifications.
Amid demographic shifts and lifestyle changes in modern society, the company strategically focuses on five categories of home medical devices with strong growth potential and significant market demand. These include rehabilitation aids, medical nursing products, health monitoring devices, respiratory support products, and traditional Chinese medicine physiotherapy and other related products.
Specifically, in 2024, based on domestic revenue, the company ranked first among all enterprises in China's rehabilitation aids product segment, achieving a market share of 2.4%. The home rehabilitation aids market in China accounted for 23.5% of the overall home medical device market in 2024.
COFOE MEDICAL implements a multi-brand marketing strategy to cater to the diverse needs of patients and customers. By assigning unique market positions and target customer groups to each brand, while ensuring all brands share the core values of the master brand COFOE, the company has successfully built a comprehensive product portfolio comprising numerous branded products.
In 2025, the company also entered into a strategic partnership with Royal Philips, granting it authorization to distribute Philips-branded health monitoring products in the Greater China region. During the track record period, the company primarily operated 11 self-owned brands and mainly sold products from 16 third-party brands.
COFOE MEDICAL has attracted 12 cornerstone investors, including Lens Technology (Hong Kong) from Lens Technology (06613), Changsha Yufeng, Yuanxin Investment, China Galaxy International Investment (related to Yuanxin Investment's OTC swap), Panjing Fund, FR M CONSULTING, Hanqingda Industrial,大成国际, Zhongkang Technology (02361), ODI TRUST, Huang Xuelin (Chairman of Shenglan Technology), Dai Jun'an (Director and General Manager of VIVO subsidiary Yunling Limited), and Lu Qinchao. The total investment from these cornerstone investors amounts to $48.49 million.