China's Jinxin Fertility Inches Down on First Trading Day
DATE:  Jun 25 2019
/ SOURCE:  yicai
China's Jinxin Fertility Inches Down on First Trading Day China's Jinxin Fertility Inches Down on First Trading Day

(Yicai Global) June 25 -- China's Jinxin Fertility, an assisted reproductive services provider, has begun its first day as a listed company by declining modestly on the Hong Kong stock exchange. 

Jinxin Fertility's [HK: 01951] shares started the day at HKD10.4 (USD1.30) and fell to HKD9.7 shortly after. The Chengdu-based firm raised HKD2.8 billion (USD358.5 million) in its initial public offering, pricing shares at HKD8.54.

The Warburg Pincus-backed firm had Hillhouse Capital, OrbiMed Healthcare Fund Management, Ally Bridge and Cormorant Capital as its cornerstone investors, it said in a statement yesterday.

Jinxin Fertility will use the funds to expand and upgrade its Chinese medical unit, hire more staff, buy other clinics, and spend 10 percent in research and development.

Founded in 2003, Jinxin Fertility has a 3.1 percent market share in terms of in vitro fertilization treatments in China, ranking third. It holds a 7.5 percent market share in the US. The firm's revenue grew 39 percent from the previous year to CNY922 million (USD134 million) last year, according to market research firm Frost & Sullivan.

China's fertility treatment market is expected to grow about 5 percent each year to USD31.7 billion in 2023. The nation had 47.8 million couples seeking such assistance last year. 

Editor: Emmi Laine

Follow Yicai Global on
Keywords:   Jinxin Fertility