The deal aims to tap into a red-hot Hong Kong market that has seen US$73 billion in equity capital market activity this year, a 232 per cent surge from the same period in 2024, according to data from the London Stock Exchange Group.
The capital raised was expected to fund product expansion, refine the company’s digital operating model, strengthen marketing and support early-stage research and development.
3SBio currently held an 87.16 per cent stake in Mandi, with Alibaba Health (Hong Kong) Technology owning 2.65 per cent, according to a filing with the Hong Kong stock exchange on Thursday. Alibaba Group Holding owns the Post.
Other minority shareholders include Hero Grand Management and the China healthcare-focused private equity firm GL Wecan Investment.
