Credit Suisse First Boston and DBS have begun pre-marketing a roughly $150 million IPO for medical devices company LMA Laryngeal Mask Airways. The deal is unusual because it has all the hallmarks of a Nasdaq IPO, but its founders have chosen to list in Singapore instead.
The company currently derives just under 60% of its sales from the US. Were it to list on Nasdaq, there would be a host of other medical services companies against which to benchmark its products, which are used during surgical procedures for anesthesia and airways support in place of simple face masks and endotracheal tubes.
However it chose...
