INT MEDICAL (01501) has announced that the board of directors has reviewed and approved a proposed A-share issuance. The move is aimed at leveraging the synergistic advantages of both the Hong Kong and A-share capital markets, establishing a dual capital operation platform, broadening financing channels, optimizing the company's capital structure, enhancing overall competitiveness, and achieving long-term stable development.
The shares will be Renminbi-denominated ordinary shares (A shares) with a par value of RMB 1.00 per share. The A shares, which will be traded in Renminbi and listed on the ChiNext Board of the Shenzhen Stock Exchange, will belong to the same class as the existing issued H shares listed on the Stock Exchange of Hong Kong. The A shares will rank pari passu with the existing H shares, having the same par value and enjoying identical rights to voting, dividends, and return of assets.
The proposed public offering will consist of no more than 37.2706 million A shares (excluding any A shares issued upon the exercise of the over-allotment option), representing no more than approximately 17.65% of the company's total issued share capital as of the date of this announcement, and no more than 15% of the company's total issued share capital as enlarged by the allotment and issuance of A shares. All shares in this issuance will be newly issued shares offered to the public, and no existing shareholder shares will be offered for sale.
The company and the lead underwriter may exercise an over-allotment option, and the number of A shares issued under the over-allotment option shall not exceed 15% of the proposed A-share issuance size (before exercise of the over-allotment option). The final number of A shares to be issued will be determined by the board of directors, authorized by the shareholders at the general meeting, in consultation with the sponsor (lead underwriter) based on specific circumstances, within the quota approved by the Shenzhen Stock Exchange and registered with the China Securities Regulatory Commission.
Assuming the over-allotment option is fully exercised and there are no other changes to the company's issued share capital, the maximum number of A shares to be issued will be 42.8612 million, representing approximately 20.29% of the company's total issued share capital as of the date of this announcement and 16.87% of the company's total issued share capital as enlarged by the allotment and issuance of A shares. The issue price will be determined through a book-building process. The board of directors, authorized by the shareholders at the general meeting, along with the lead underwriter, will determine the issue price through an initial price consultation, or through cumulative bidding after the initial price consultation determines a price range.
The directors believe that the A-share issuance will enable the company to leverage the synergistic advantages of both the Hong Kong and A-share capital markets, establish a dual capital operation platform, and fully utilize the outstanding advantages of the A-share capital market, such as ample liquidity and diversified financing channels, to support the development of the company's core medical device business and industrial layout. On one hand, the A-share issuance will raise sufficient funds to focus on core technology research and development, product pipeline expansion, and industrial ecosystem integration, continuously strengthening technical barriers and product competitiveness. On the other hand, it will help further enhance brand influence and customer trust, deepen the domestic industry market layout, and optimize corporate governance structure and information disclosure standards.
Through the H+A dual-listing structure, the company will effectively broaden its financing capacity, optimize its capital structure, enhance overall competitiveness, seize opportunities in the medical device industry, consolidate its leading position in the industry, and achieve long-term stable development.
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