Key facts
- Klarity Medical & Equipment priced its IPO on the Beijing Stock Exchange at 15.6 yuan ($2.3) per share.
- This is the second company in over three years to use the Beijing Stock Exchange's offline-inquiry mechanism for book-building.
Klarity Medical & Equipment priced its Beijing Stock Exchange IPO at 15.6 yuan ($2.3) per share, marking a revival of the exchange's book-building mechanism. The offering saw strong demand, with analysts expecting a tiered pricing system for IPOs.

The successful IPO of Klarity Medical & Equipment signals a potential revival of the book-building mechanism on the Beijing Stock Exchange, aiming to attract more technology companies and promote market-driven valuations.
Klarity Medical & Equipment Co. Ltd. has priced its initial public offering on the Beijing Stock Exchange at 15.6 yuan ($2.3) per share. This marks the second instance in over three years that a company has utilized the exchange's offline-inquiry mechanism for book-building, a practice that had been largely suspended since April 2023 due to concerns over valuation and liquidity.
The return of book-building on the Beijing bourse is seen as an effort by regulators to foster more market-driven IPO pricing and attract high-quality technology companies. The offering for Klarity garnered significant interest, with 2,133 participants and a subscription ratio of 716 times. Based on its 2025 core earnings, the IPO pricing gives Klarity a price-to-earnings ratio of 19.62.
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