MicroPort Scientific Announces Proposed Spin-off of MicroPort NeuroTech for Independent Listing on HKEX Main Board

MicroPort(00853) announced that the company proposes to spin off the shares of MicroPort Brain Science Co., Ltd. for independent listing on the Main Board of the Stock Exchange. The spin-off and independent listing of the shares of the spin-off company on the Main Board of the Stock Exchange constitutes the company’s spin-off of the spin-off company in accordance with the 15th Application Guideline. The Stock Exchange has confirmed that the company may proceed with the proposed spin-off.

On December 28, 2021, the spin-off company applied to the Stock Exchange for approval to list and trade its shares on the Main Board of the Stock Exchange. The spin-off company plans to offer its shares through a global offering for the listing. The size and terms of the global offering have not yet been finalized. As of the date of this announcement, the Company indirectly holds approximately 54.64% of the spin-off company.

According to the provisions of Application Guidance Note 15, the Board will offer eligible shareholders a guaranteed quota for obtaining shares of the spin-off company through a preferential offering, in order to appropriately consider the interests of shareholders.

It is reported that the spin-off group mainly engages in the R&D, production, and commercialization of neurointerventional treatment and access medical devices, which are used to treat neurovascular diseases (including hemorrhagic stroke, cerebral atherosclerotic stenosis, and acute ischemic stroke).