Shanghai Microport Medbot (Group) Co. Ltd. plans to list on the Shanghai Stock Exchange on the Sci-Tech Board to raise ¥2.8 billion (US$420 million) to progress its surgical robots. The funds raised from the IPO would go toward research and development of the surgical robots, manufacturing, marketing and academic promotion, as well as replenishing working capital. The company also plans shareholder dividend distribution plans within three years following the IPO listing.