Mandi, the Alibaba Health-backed consumer healthcare arm being spun off from mainland drug maker 3SBio, filed for an initial public offering in Hong Kong on Friday, betting that its market-leading minoxidil hair-loss products will attract investors.
The deal aims to tap into a red-hot Hong Kong market that has seen US$73 billion in equity capital market activity this year, a 232 per cent surge from the same period in 2024, according to data from the London Stock Exchange Group.
The company did…
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3SBio spin-off Mandi banks on hair-loss and weight-loss drugs in Hong Kong IPO
