BGI Genomics, 7/13/17
Shenzhen-based genetic testing company BGI Genomics has announced that the company will IPO on the Shenzhen stock exchange tomorrow, seeking to raise approximately RMB 547 mln, floating no more than 10.02% of the company's equity.
BGI Genomics, which will trade under the 300676 ticker, is looking to sell 40.1 mln newly issued shares at a price of RMB 13.64 per share.
BGI Genomics provides genomic diagnostics and research services for medical institutions, research institutions, and corporations, primarily through gene testing.
Company founder Wang Jian holds an 85.3% stake in BGI Holdings, which in turn directly and indirectly holds a 42.42% stake in BGI Genomics.
Considering the current state of business development, operations plans, and the expenses of a public listing, BGI Genomics estimates that it will generate revenue of RMB 872 mln in H1 2017, up 13.84% YoY, and net profit of RMB 175 mln, up 17.45% YoY.