Shanghai Haohai Biological plans Hong Kong IPO to raise $263M

Shanghai Haohai Biological Technology plans an initial public offering on the Hong Kong Stock Exchange to raise as much as $263 million (HK$2.00 billion) to pay for new production lines, equipment and acquisitions, the company said on Monday.

The Shanghai-based firm makes biomedical material for treating wounds that is also used during surgical operations. It plans to issue 40 million shares at an offer price between HK$48.50 to HK$59 per share. The offer price is expected to be announced on Thursday.

- here's the Hong Kong Exchange notice (PDF)