MicroPort Medical (00853.HK) Raises Approximately HK$1.541 Billion via Share Placement at a 3.49% Discount

Original Title: MicroPort (00853-HK) Raises Approximately HK$1.541 Billion Through Share Placement at a Discount of About 3.49% Source: Cailianshe

[Caihua News] MicroPort (00853-HK) announced that on June 22, the company placed a total of 65.958 million new shares at HK$23.50 per share. The placed shares account for approximately 3.66% of the company’s enlarged issued share capital. The placing price represents a discount of approximately 3.49% to yesterday’s closing price of HK$24.35 per share.

The gross and net proceeds from the placement are expected to be approximately HK$1.55 billion and HK$1.541 billion, respectively. The Company intends to use the net proceeds to repay the Group’s bank loans, fund future potential business development and investments (should such opportunities arise), and for the Group’s general working capital.

Rationale for the Placement The Group is a leading medical device group, focusing on the innovation, manufacturing, and sales of high-end medical device products globally. Its operations include cardiovascular interventional products, orthopedic medical devices, cardiac rhythm management medical devices, large artery and peripheral interventional products, neuro-interventional products, heart valve business, and surgicalRobotbusiness and other business segments. The Directors consider that the Placing provides an opportunity for the Company to raise funds while broadening its shareholder and capital base. The Directors are of the opinion that the Placing will strengthen the Group’s financial position and provide working capital to the Group. The Directors consider that the terms of the Placing Agreement (including the Placing Price) are fair and reasonable and in the overall interests of the Company and its Shareholders.

The placing is conditional upon, among other things, the listing of and permission to deal in the placing shares being granted by The Stock Exchange of Hong Kong Limited. The placing shares will be allotted and issued under the general mandate.