(NBD) Sept. 6 -- Chinese conglomerate Fosun International and Fosun Pharma announced that Sisram Medical Ltd. (Sisram), a unit of Fosun Pharma, will seek an initial public offering in Hong Kong.

According to the prospectus, Sisram is to sell 10 per cent of its 110 million shares in Hong Kong, with the rest being offered on global markets. The Hong Kong tranche is priced at the range of HK$8.88 to HK$12.35 (1.13 to 1.58 U.S. dollars) per share.

As a unit of Fosun Pharma in Israel, Sisram acquired Israeli laser provider Alma Lasers in 2013, with the latter providing products in postpartum recover, anti-aging, hair removal and dermatologic therapy. Sisram registered an annual revenue of 101.3 million U.S. dollars, 110.4 million U.S. dollars and 118.2 U.S. dollars respectively in 2014, 2015 and 2016 (fiscal year ending on Dec 31 of each year). Besides, as of Dec 31, 2016, Chinese dealers have become the biggest customers and distribution partners of Sisram, contributing over 20% of Sisram's total revenue in 2016.

With regard to Sisram's going public, the founder of Max Colla (Peking) Science and Technology Ltd., a medical service platform, Shi Lichen told NBD that such a move is beneficial for Sisram's brand exposure and business expansion.

Shi added that the trading volume in China's cosmetic medicine market is on the increase. According to a report released by International Society of Aesthetic Plastic Surgery, the output value of China's cosmetic medicine businesses is expected to surpass 800 billion yuan (122.5 billion U.S. dollars) by 2018.

Email: gaohan@nbd.com.cn