HeartCare Medical-B (06609.HK) Hong Kong Public Offering Oversubscribed by 333.14x, Priced at HK$171 per Share

Original Title: HeartCare-B (06609.HK) Hong Kong Public Offering Oversubscribed 333.14 Times, Priced at Upper Limit of HK$171 per Share Source: Gelonghui

Gelonghui, August 19 | HeartCare-B (06609.HK) announced that the Company's global offering comprises 6,601,850 shares, of which 3,301,000 shares are for the Hong Kong public offering and 3,300,850 shares for the international offering, along with a 15% over-allotment option. The offer price has been determined at HK$171.00 per offer share, with each board lot comprising 50 shares. Goldman Sachs andChina International Capital CorporationAs joint sponsor, the shares are expected to be listed on the Main Board of The Stock Exchange of Hong Kong Limited on August 20, 2021.

The H Shares initially offered under the International Offering have been oversubscribed, representing approximately 8.3 times the total number of H Shares initially available for subscription under the International Offering. The Hong Kong Offer Shares initially offered under the Hong Kong Public Offering have been substantially oversubscribed. A total of 235,040 valid applications were received, subscribing for a total of 219.9 million Hong Kong Offer Shares, representing approximately 333.14 times the total number of H Shares initially available for subscription under the Hong Kong Public Offering.

Based on an offer price of HK$171.00 per Offer Share, pursuant to the relevant cornerstone investment agreement(s), the cornerstone investor(s) have subscribed for a total of 3,000,600 H Shares, representing in aggregate approximately 7.73% of the Company’s issued share capital immediately upon completion of the Global Offering and approximately 45.45% of the number of Offer Shares in the Global Offering, in each case assuming the Over-allotment Option is not exercised.

Based on the offer price of HK$171.00 per H Share, the estimated net proceeds from the Global Offering to be received by the Company are approximately HK$1,014.8 million (assuming the Over-allotment Option is not exercised). The Company intends to allocate approximately 45.3% of the net proceeds to its core products; approximately 39.9% of the net proceeds are expected to be allocated to other products under development in the Company’s pipeline; approximately 4.8% of the net proceeds will be used to fund the enhancement of research and development capabilities through internal research and the continuous expansion of the product portfolio; and approximately 10.0% of the net proceeds are expected to be used as working capital and for general corporate purposes.