HONG KONG — Sisram Medical Ltd (“Sisram Med” or the “Company”; stock code: 1696.HK), announced the allotment results of its global offering, which offers a total of 110,000,000 shares comprising of 88,000,000 new shares offered by the Company and 22,000,000 sale shares by a controlling shareholder, Magnificent View Investments Limited (the “Selling Shareholder”). The offer price was set at HK$8.88 per share. Assuming that the over-allotment option is not exercised, the net proceeds from the global offering to be received by the Company, after deduction of underwriting fees and commissions and estimated expenses payable in connection with the global offering, are estimated to be approximately HK$688.7 million; while those to be received by the Selling Shareholder, after deduction of underwriting fees and commissions payable, are estimated to be approximately HK$188.5 million.
The valid applications received pursuant to the Hong Kong public offering represented approximately 17.58 times of the total number of 11,000,000 Hong Kong offer shares initially available for subscription. Due to the over-subscription, a total number of 22,000,000 shares have been reallocated from the international offering to the Hong Kong public offering. As a result, a final number of 33,000,000 offer shares were allocated to the Hong Kong public offering, representing 30% of the global offering size before any exercise of the over-allotment option.
The international offering was also moderately over-subscribed. After reallocation, a final number of 77,000,000 offer shares were allocated to the placees and qualifying shareholders of Fosun International Limited under international offering, including the reserved shares offered under the preferential offering.
Sisram Med has entered into cornerstone investment agreements with Shanghai Free Trade Zone Phase I Equity Investment Fund Partnership Enterprise (Limited Partnership), Rise Huge Corporation Limited and Neo Derm Group Limited for the subscription of aggregate 25,296,800 offer shares, with respective offer shares of 13,175,600 shares, 8,783,600 shares and 3,337,600 shares, accounting for approximately 23.00% of the global offering size before any exercise of the over-allotment option.
China International Capital Corporation Hong Kong Securities Limited (“CICC”) and Jefferies Hong Kong Limited (in alphabetical order) are the joint sponsors, and together with Fosun Hani Securities Limited are the joint global coordinators. The joint global coordinators, together with Haitong International Securities Company Limited, Huatai Financial Holdings (Hong Kong) Limited and CMB International Capital Limited (in relation to the international offering only) are the joint bookrunners and joint lead managers. CICC is the sole settlement agent and sole stabilizing manager.
Share trading of Sisram Med on the Main Board of the Hong Kong Stock Exchange Limited (“SEHK”) was commenced on 19 September 2017 (Tuesday), with the stock code 1696 in board lots of 400 shares each.