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PW Medtech Group Limited — Capital/Financing Update 2013
Nov 29, 2013
49875_rns_2013-11-29_d645183e-1355-4ec2-930d-214d2929080e.pdf
Capital/Financing Update
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Unless otherwise defined herein, capitalized terms used in this announcement shall have the same meanings as those defined in the prospectus dated 28 October 2013 (the ‘‘Prospectus’’) issued by PW Medtech Group Limited (the ‘‘Company’’).
The Company makes this announcement pursuant to section 9(2) of the Securities and Futures (Price Stabilizing) Rules (Chapter 571W of the Laws of Hong Kong) (the ‘‘Stabilizing Rules’’) and this announcement is for information purposes only and does not constitute an offer or an invitation by any person to acquire, purchase or subscribe for securities of the Company.
Hong Kong Exchanges and Clearing Limited, The Stock Exchange of Hong Kong Limited (the ‘‘Stock Exchange’’) and Hong Kong Securities Clearing Company Limited (‘‘HKSCC’’) take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.
This announcement is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia). This announcement does not constitute or form a part of any offer or solicitation to purchase or subscribe for securities in the United States. The securities mentioned herein have not been, and will not be, registered under the United States Securities Act of 1933 (the ‘‘U.S. Securities Act’’). The securities may not be offered or sold in the United States except pursuant to an exemption from the registration requirements of the U.S. Securities Act. There will be no public offer of securities in the United States.
PW MEDTECH GROUP LIMITED 普 華 和 順 集 團 公 司
(incorporated in the Cayman Islands with limited liability)
(Stock Code: 01358)
STABILIZING ACTIONS AND END OF STABILIZATION PERIOD
The Company announces that the stabilization period in connection with the Global Offering ended on 29 November 2013.
The stabilizing actions undertaken by Morgan Stanley Asia Limited, the Stabilizing Manager, during the stabilization period involved:
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over-allocation of an aggregate of 60,000,000 Shares in the International Offering;
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the borrowing of an aggregate of 60,000,000 Shares by the Stabilizing Manager from Cross Mark Limited to cover over-allocation of Shares in the International Offering;
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the successive purchases of an aggregate of 6,699,000 Shares at the price range of HK$3.11 to HK$3.18 per Share (exclusive of brokerage fee, SFC transaction levy and Stock Exchange trading fee, if any) on the market during the stabilization period;
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the successive sales of an aggregate of 6,699,000 Shares acquired by the Stabilizing Manager in the course of the primary stabilizing action in order to liquidate positions that were established by such action at the price range of HK$3.31 to HK$3.56; and
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- the full exercise of the Over-allotment Option by the Sole Global Coordinator on behalf of the International Underwriter on 18 November 2013 in respect of 60,000,000 Shares at the Offer Price to facilitate the return to Cross Mark Limited of 60,000,000 borrowed Shares which were used to cover over-allocation of Shares in the International Offering.
The Company makes this announcement pursuant to section 9(2) of the Stabilizing Rules and announces that the stabilization period in connection with the Global Offering ended on 29 November 2013, being the 30th day after the last day for the lodging of applications under the Hong Kong Public Offering.
The stabilizing actions undertaken by Morgan Stanley Asia Limited, the Stabilizing Manager, during the stabilization period involved:
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over-allocation of an aggregate of 60,000,000 Shares in the International Offering, representing approximately 15% of the Offer Shares initially available under the Global Offering before any exercise of the Over-allotment Option;
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the borrowing of an aggregate of 60,000,000 Shares by the Stabilizing Manager from Cross Mark Limited pursuant to the stock borrowing agreement dated 1 November 2013 entered into between Cross Mark Limited and the Stabilizing Manager to cover over-allocation of Shares in the International Offering. Such Shares will be returned and redelivered to Cross Mark Limited in accordance with the terms of such stock borrowing agreement;
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the successive purchases of an aggregate of 6,699,000 Shares at the price range of HK$3.11 to HK$3.18 per Share (exclusive of brokerage fee, SFC transaction levy and Stock Exchange trading fee, if any) on the market during the stabilization period, representing approximately 1.97% of the Offer Shares initially available under the Global Offering before any exercise of the Overallotment Option. The last purchase made by the Stabilizing Manager on the market during the course of the stabilization period was on 8th November 2013 at the price of HK$3.18 per Share (exclusive of brokerage fee, SFC transaction levy and Stock Exchange trading fee, if any);
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the successive sales of an aggregate of 6,699,000 Shares acquired by the Stabilizing Manager in the course of the primary stabilizing action in order to liquidate positions that were established by such action at the price range of HK$3.31 to HK$3.56; and
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the full exercise of the Over-allotment Option by the Sole Global Coordinator on behalf of the International Underwriter on 18 November 2013 in respect of 60,000,000 Shares (the ‘‘Overallotment Shares’’), representing 15% of the Offer Shares initially available under the Global Offering before any exercise of the Over-allotment Option, to facilitate the return to Cross Mark Limited of 60,000,000 borrowed Shares which were used to cover over-allocation of Shares in the International Offering. The Over-allotment Shares were sold by the Company at HK$3.18 per Share (exclusive of brokerage fee, SFC transaction levy and Stock Exchange trading fee, if any),
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being the Offer Price under the Global Offering. Details of the exercise of the Over-allotment Option were more particularly disclosed in the announcement of the Company dated 18 November 2013.
The Company continues to comply with the public float requirements under Rule 8.08(1)(a) of the Listing Rules.
By order of the board of directors of PW MEDTECH GROUP LIMITED Lin Junshan Chairman
Hong Kong, 29 November 2013
As at the date of this announcement, the Board of Directors of the Company comprises Mr. Jiang Liwei as executive Director; Mr. Lin Junshan, Ms. Yue’e Zhang and Mr. Feng Dai as non-executive Directors; Mr. Zhang Xingdong, Mr. Wang Xiaogang and Mr. Chen Geng as independent non-executive Directors.
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