McCoyland’s stock price fell by 34.05% on the first day of listing, led by the founder of the Miroi group.
On the first day of listing, the stock price fell by more than 30%, with the decline narrowing to 34.05%. The market value was approximately HK$5.478 billion.
On September 7, 2026, Shenzhen Mecoten Biomedical Technology Co., Ltd. (02041.HK) listed on the main board of Hong Kong Stock Exchange. The company was jointly established by former executives of Mindray Medical, Liu Jie, Zhong Yaoqi, and Li Hui, with Hillhouse Capital being its largest external shareholder. A total of 38.9106 million shares were issued in this global offering, of which 90% was sold internationally. The issue price per share was 15.42 Hong Kong dollars, with a net fundraising amount of approximately 496 million Hong Kong dollars. No cornerstone investors or price stabilization mechanism were set. On the first day of listing, the opening price was 10 Hong Kong dollars, with a decline of 35.15% at one point; by 10:00 on that day, it narrowed to 34.05%. Mecoten focuses on three main areas: life support, minimally invasive interventions, and in vitro diagnostics. It operates in the fields of infusion management, in vitro diagnostics, and rehabilitation therapy. In 2025, its revenue reached 1.62 billion Hong Kong dollars, but the number of distributors decreased by 1,678 compared to the end of the previous year. The funds raised from this listing will be used for research and development upgrades, capacity expansion, and international market expansion.
Approximately HK$496 millionNet proceeds from fundraising
Key entitiesKEY ENTITIES
Hong Kong Stock ExchangeLi HuiLiu JieMcCourt Biopharmaceutical Technology Co., Ltd.McCoy FieldMindray MedicalZhong Yao Qi
Event frameEVENT FRAME
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AI · 中外媒体across 1 days
Status
On the first day of listing, the stock price fell by more than 30%, with the decline narrowing to 34.05%. The market value was approximately HK$5.478 billion.
Coverage · reports per dayLANGUAGE SPLIT
Entity relations
Integrated timelineUNIFIED TIMELINE
2026-09-07
Performance on the first day of listing on the Hong Kong stock market for McCutchen
The company went public, with an opening price of 10 Hong Kong dollars, which dropped to 35.15% at one point. By 10:00 that day, the decline narrowed to 34.05%, and the market value was HK$5.478 billion.
Shenzhen Makotian BioMedical Technology Co., Ltd. (02041.HK) went public on the main board of Hong Kong Stock Exchange on September 7, 2026. On its first day of trading, the stock dropped by 35.15% to 10 Hong Kong dollars. By 10:00 on that day, the decline narrowed to 34.05%, and its market value reached 5.478 billion Hong Kong dollars. The company was founded by former executives of Mindray Medical, Liu Jie, Zhong Yaoqi, and Li Hui. Hillhouse Capital holds a 19.29% stake as its largest external shareholder. The IPO price was 15.42 Hong Kong dollars per share, with a net proceeds of approximately 496 million Hong Kong dollars. No cornerstone investors or price stabilization mechanisms were established. The company focuses on three major areas: life support, minimally invasive interventions, and in vitro diagnostics. In 2025, its revenue reached 1.62 billion Hong Kong dollars, but the number of distributors decreased by 1,678 compared to the end of the previous year.
On September 7, 2026, the surgical device company Mecotian was listed on the main board of the Hong Kong Stock Exchange. The company conducted a global offering of 38.9106 million shares, with 10% allocated to the Hong Kong public offering and 90% to the international offering. The issue price per share was 15.42 Hong Kong dollars, resulting in a total net raise of approximately 496 million Hong Kong dollars. Mecotian focuses on the fields of infusion management, in vitro diagnosis, and rehabilitation therapy. Its products include infusion workstations, injection pumps, POCT bedside diagnostic equipment, and blood lead analyzers. The funds raised from this listing will be used for research and development upgrades, capacity expansion, and international market expansion.