Shanghai Haohai Biological Technology, a company that makes medical products from absorbable biomedical materials, announced plans to raise as much as $305 million in an IPO on the Hong Kong Stock Exchange. The company will use 25% of the proceeds to update its production facilities and another 25% for acquisitions of other biomedical material companies. The company has a portfolio of 14 biomedical products, three of which are drugs and the rest Class III medical devices.
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