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).
NO BREAKTHROUGH? More substantial ‘deliverables,’ such as tariff reductions, would likely be saved for a meeting between Trump and Xi later this year, a trade expert said China launched two probes targeting the US semiconductor sector on Saturday ahead of talks between the two nations in Spain this week on trade, national security and the ownership of social media platform TikTok. China’s Ministry of Commerce announced an anti-dumping investigation into certain analog integrated circuits (ICs) imported from the US. The investigation is to target some commodity interface ICs and gate driver ICs, which are commonly made by US companies such as Texas Instruments Inc and ON Semiconductor Corp. The ministry also announced an anti-discrimination probe into US measures against China’s chip sector. US measures such as export curbs and tariffs
The US on Friday penalized two Chinese firms that acquired US chipmaking equipment for China’s top chipmaker, Semiconductor Manufacturing International Corp (SMIC, 中芯國際), including them among 32 entities that were added to the US Department of Commerce’s restricted trade list, a US government posting showed. Twenty-three of the 32 are in China. GMC Semiconductor Technology (Wuxi) Co (吉姆西半導體科技) and Jicun Semiconductor Technology (Shanghai) Co (吉存半導體科技) were placed on the list, formally known as the Entity List, for acquiring equipment for SMIC Northern Integrated Circuit Manufacturing (Beijing) Corp (中芯北方積體電路) and Semiconductor Manufacturing International (Beijing) Corp (中芯北京), the US Federal Register posting said. The
India’s ban of online money-based games could drive addicts to unregulated apps and offshore platforms that pose new financial and social risks, fantasy-sports gaming experts say. Indian Prime Minister Narendra Modi’s government banned real-money online games late last month, citing financial losses and addiction, leading to a shutdown of many apps offering paid fantasy cricket, rummy and poker games. “Many will move to offshore platforms, because of the addictive nature — they will find alternate means to get that dopamine hit,” said Viren Hemrajani, a Mumbai-based fantasy cricket analyst. “It [also] leads to fraud and scams, because everything is now
MORTGAGE WORRIES: About 34% of respondents to a survey said they would approach multiple lenders to pay for a home, while 29.2% said they would ask family for help New housing projects in Taiwan’s six special municipalities, as well as Hsinchu city and county, are projected to total NT$710.65 billion (US$23.61 billion) in the upcoming fall sales season, a record 30 percent decrease from a year earlier, as tighter mortgage rules prompt developers to pull back, property listing platform 591.com (591新建案) said yesterday. The number of projects has also fallen to 312, a more than 20 percent decrease year-on-year, underscoring weakening sentiment and momentum amid lingering policy and financing headwinds. New Taipei City and Taoyuan bucked the downturn in project value, while Taipei, Hsinchu city and county, Taichung, Tainan and Kaohsiung
RSS