Top Page | English | 简体中文 | 繁體中文 | 한국어 | 日本語
Friday, 30 November 2018, 08:53 HKT/SGT
Huakang Biomedical Holdings Company Limited Announces Its Share Offering

HONG KONG, Nov 30, 2018 - (ACN Newswire) - Huakang Biomedical Holdings Company Limited ("Huakang Biomed" or the "Company", together with its subsidiaries, the "Group", stock code: 8622), a medical device group specialised in the research and development, manufacture and sale of a wide range of IVD reagents in the PRC, announced its Hong Kong Public Offering will commence on 30 November, 2018, and trading on the GEM of The Stock Exchange of Hong Kong Limited is expected to commence on 13 December, 2018.

The Group offers mainly three categories of IVD reagents, namely, male fertility IVD reagent, parasite antibody detection reagent and EBV antibody detection reagent. Our Group is particularly focused on the PRC male fertility IVD reagent market. Relying on our outstanding Research and Development capabilities, which is one of our key competitive strengths, as well as our broad geographical sales and distribution network, the Group is strengthening our market position in the PRC male fertility IVD market. Huakang Biomed ranked the third among manufacturers of male fertility IVD reagents in the PRC, having 14.3% share of this market in terms of medical institution purchase value in 2017, according to the CIC Report. In the future, Huakang Biomed will fully utilize our market position and take advantage of business opportunities arising from the growing PRC IVD market.

The Hong Kong Public Offering will commence at 9:00 a.m. on 30 November, 2018 (Friday) and is expected to close at 12:00 noon on 5 December, 2018 (Wednesday). The indicative Offer Price range is HK$0.44 to HK$0.64 per share of the Company. Trading of the Shares on the GEM of The Stock Exchange of Hong Kong Limited is expected to commence on 13 December, 2018 (Thursday). The Shares, with stock code 8622, will be traded in board lots of 8,000 Shares each.

Based on the Offer Price of HK$0.54 per Offer Share, being the mid-point of the indicative Offer Price range of HK$0.44 per Offer Share to HK$0.64 per Offer Share, the net proceeds from the Share Offer to the Company (after deduction of underwriting fees and estimated expenses payable by us in relation to the Listing and the Share Offer) are estimated to be RMB17.9 million (equivalent to HK$20.2 million).

The Company intends to use the net proceeds it will receive from the Share Offer for the following purposes:

- Approximately 41.5%, representing HK$8.4 million, will be used for developing new products, improving our existing products and carrying out international cooperation projects;

- Approximately 27.3%, representing HK$5.5 million, will be used for expanding our sales network and enhancing our sales and marketing activities;

- Approximately 27.9%, representing HK$5.6 million, will be used for developing auxiliary reproductive supply business; and

- The remaining amount of approximately 3.3%, representing approximately HK$0.66 million, will be used for funding working capital needs.

RHB Capital Hong Kong Limited is the Sole Sponsor; Lead Securities (HK) Limited is the Sole Lead Manager; Lead Securities (HK) Limited and Ever-Long Securities Company Limited are the Joint Bookrunners; Lego Securities Limited and Canfield Securities Company Limited are the Co-Lead Managers.

Nov 30, 2018 08:53 HKT/SGT
Topic: Press release summary
Sectors: Daily Finance, Daily News, BioTech
From the Asia Corporate News Network

Copyright © 2018 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.

Latest Press Releases
WARC launches Marketer's Toolkit 2019  
Dec 12, 2018 16:30 HKT/SGT
CLX Communications AB (publ): CLX Communications appoints new CFO  
Dec 12, 2018 16:00 HKT/SGT
Texhong Textile acquires Winnitex, a leading company in dyed woven fabrics industry, and its subsidiaries  
Dec 12, 2018 15:58 HKT/SGT
Huakang Biomedical Holdings Company Limited Announces the Offer Price and Allotment Results of the Share Offer  
Dec 12, 2018 14:31 HKT/SGT
Mitsubishi Motors Secures Largest Fleet Sale of XPANDER to Garuda Indonesia  
Dec 12, 2018 13:04 HKT/SGT
Mitsubishi Corporation: Smart Meter Data Collection System 'Experiment' Launched in Hamamatsu  
Dec 12, 2018 12:20 HKT/SGT
Mobvista Goes Public in Hong Kong  
Dec 12, 2018 12:00 HKT/SGT
Blockpass and Infinito Wallet Launch Most Secure KYC-Enabled Security Token Wallet  
Dec 12, 2018 10:00 HKT/SGT
GARDP, Eisai and Takeda Announce Partnership in the Search for New Antibiotics  
Dec 12, 2018 09:06 HKT/SGT
Mr. ZHENG Li, CEO & Executive Director of CM Financial Awarded as "CEO Of The Year 2018" By CEO Magazine and CAPITAL Entrepreneur  
Dec 12, 2018 08:38 HKT/SGT
More Press release >>
 News Alerts
Copyright © 2018 ACN Newswire - Asia Corporate News Network
Home | About us | Services | Partners | Events | Login | Contact us | Privacy Policy | Terms of Use | RSS
US: +1 800 291 0906 | Beijing: +86 10 8405 3688 | Hong Kong: +852 2217 2912 | Singapore: +65 6304 8926 | Tokyo: +81 3 6721 7212

Connect With us: