MicroPort-Backed Endovascular Medical Aims for STAR Market Listing on June 19

Source: Zhitong Finance Network

Zhitong Finance APP learns that, according to information disclosed on the official website of the Shanghai Stock Exchange (SSE), the 6th review meeting of the Science and Technology Innovation Board Listing Committee in 2019 will be held on the afternoon of June 19. The meeting will review the listing application of Shanghai MicroPort Endovascular MedTech (Group) Co., Ltd. The company plans to publicly issue no more than 18 million shares, raising RMB 651 million. Guotai Junan Securities and Huajing Securities serve as the sponsoring institutions for the company. Hong Kong-listed MicroPort Scientific Corporation (00853.HK) is the indirect controlling shareholder of Endovastec, holding over 60% of its shares.

It is reported that Endovastec is primarily engaged in the research and development, manufacturing, and sales of interventional medical devices for the aorta and peripheral vessels. In the field of aortic interventional medical devices, the company is one of the leading enterprises in China with a comprehensive product portfolio, large scale, and strong market competitiveness; its main products in this area include aortic stent-graft systems. In the field of peripheral vascular interventional medical devices, the company has cultivated expertise over many years and currently offers products such as peripheral vascular stent systems and peripheral vascular balloon dilation catheters.

According to the company’s announcement, MicroPort currently has no actual controlling shareholder. This is because its largest shareholders include Otsuka Holdings, a pharmaceutical holding company listed on the Tokyo Stock Exchange in Japan; the Perfect Foundation in Hong Kong; and Zhangjiang Group, among others.

In addition, given the extensive business operations within the MicroPort system, Endovastec stated that to ensure corporate independence, it successively assumed the research and development, manufacturing, and sales activities related to the independent business line of aortic and peripheral vascular interventional medical devices from Shanghai MicroPort Medical (Group) Co., Ltd. between September 2014 and January 2016.