MinSheng Healthcare IPO Raised Nearly RMB 500 Million Yuan (USD $70 Million)

On August 28th, MinSheng Healthcare released its prospectus. During the reporting period, the company’s main products were vitamins and mineral-based over-the-counter drugs, accounting for over 85% of its core business revenue. Although currently, health food products contribute approximately one-tenth of the company’s revenue, the majority of this fundraising effort will be directed towards the health food production line. Out of the total fundraising amount of RMB 465 million yuan (USD $65 million), approximately 71% of the funds will be invested in the smart production line renovation project for health food. The remaining 20% and 9% will be allocated to the renovation project for vitamin and mineral-based OTC products and the MinSheng Healthcare Research Center, respectively. (Source: shuzhengkangxun)

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