MicroPort seeks up to $198 mln in Hong Kong IPO

HONG KONG, Sept 10 Thu Sep 9, 2010 9:22pm EDT

HONG KONG, Sept 10 (Reuters) - MicroPort Scientific Corp. is seeking to raise up to $198 million through a Hong Kong IPO, according to a term sheet released on Friday.

The company is selling 252.7 million shares, with an indicative range set at HK$4.60-HK$6.10 per share.

MicroPort said the proceeds will be used to expand product offerings and acquiring businesses.

Credit Suisse is the sole bookrunner. (Reporting by Kennix Chim; Editing by Jacqueline Wong)