MicroPort Medical Robotics, a Subsidiary of MicroPort Scientific (00853.HK), Set for Independent Listing on HKEX on November 2

This article is sourced from: Zhitong Finance

Zhitong Finance APP reports: MicroPort (00853) has announced the proposed spin-off and separate listing on the Main Board of the Hong Kong Stock Exchange of its subsidiary, Shanghai MicroPort Medbot (Group) Co., Ltd.

On October 26, 2021, an international underwriting agreement was entered into between the Spun-off Company and the international underwriters, pursuant to which the international underwriters agreed to subscribe for or purchase, or procure subscribers or purchasers to subscribe for or purchase, the shares of the Spun-off Company offered under the International Offering, at a final offer price of HK$43.2 per share of the Spun-off Company.

Furthermore, pursuant to the International Underwriting Agreement, the Spinco has granted the International Underwriters an over-allotment option exercisable by the Joint Global Coordinators of the Global Offering, pursuant to which the Spinco may be required to allot and issue, at the Final Offer Price, up to a maximum of 5,430,000 additional Spinco Shares in aggregate, representing 15% of the number of Spinco Shares initially available for subscription under the Global Offering, to cover over-allocations in the International Offering.

Assuming the Global Offering is completed in accordance with the current timetable, the shares of the Spin-off Company are expected to commence trading on the Main Board of the Stock Exchange at 9:00 a.m. on 2 November 2021.