Peijia Medical Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange


Not for distribution, directly or indirectly, in or into the United States
This press release shall not, and is not intended to, constitute an offer to sell or an invitation or solicitation of an offer to buy or subscribe for the securities of Peijia Medical Limited in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended (the “Securities Act”) or an applicable exemption from the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the Company and management, as well as financial statements. The securities referred to herein have not been and will not be registered under the Securities Act or any state securities laws of the United States, or under the applicable securities laws of Australia or Canada. No public offering of the securities referred to herein will be made in the United States or in any jurisdiction outside of Hong Kong. No copy of this press release has been or should be distributed or sent, directly or indirectly, to the United States, its territories or possessions.
This press release contains forward-looking statements and you are cautioned not to place undue reliance on any forward-looking statements contained herein. We can give no assurance that these forward-looking statements will prove to have been correct. Expectations reflected in these forward-looking statements are subject to change and we undertake no obligation and do not intend to update or revise any forward-looking statements herein.

 

Peijia Medical Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange
Offer Price Set at HK$15.36 per Offer Share To Raise Proceeds of HK2.343 Billion

A leading domestic player in the high-growth transcatheter valve therapeutic and neurointerventional procedural medical device markets
Had developed six registered products and had an additional 20 product candidates in various stages of development

(Hong Kong, May 5, 2020) A leading domestic player in the high-growth transcatheter valve therapeutic and neurointerventional procedural medical device markets – Peijia Medical Limited (“Peijia Medical” or the “Company”, together with its subsidiaries, the “Group”, stock code: 9996), today announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”).

Peijia Medical plans to offer 152,511,000 shares (subject to the Over-allotment Option), of which 137,259,000 shares will be international offer shares (subject to reallocation and the Over-allotment Option), representing approximately 90% of the initial offer shares; the remaining 15,252,000 shares will be Hong Kong offer shares (subject to reallocation), representing approximately 10% of the initial offer shares. Offer price is set at HK$15.36 per offer share. Peijia Medical will open for Hong Kong Public Offering in Hong Kong at 9 a.m., May 5, 2020 (Tuesday), and close at 12:00 noon, May 8, 2020 (Friday). Dealings in shares of Peijia Medical on the Main Board of the Hong Kong Stock Exchange is expected to commence on May 15, 2020 (Friday). The shares will be traded in board lots of 1,000 shares each. The Company’s stock code will be 9996.

  • Morgan Stanley Asia Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors.
  • Morgan Stanley Asia Limited, Huatai Financial Holdings (Hong Kong) Limited, BOCI Asia Limited and UBS AG Hong Kong Branch are the Joint Global Coordinators.
  • Morgan Stanley Asia Limited (in relation to the Hong Kong Public Offering), Morgan Stanley & Co. International plc (in relation to the International Offering), Huatai Financial Holdings (Hong Kong) Limited, BOCI Asia Limited, UBS AG Hong Kong Branch, CMB International Capital Limited and Guotai Junan Securities (Hong Kong) Limited are the Joint Bookrunners and Joint Lead Managers.

Peijia Medical focuses on the high-growth interventional procedural medical device market in China, and is a leading domestic player in each of the transcatheter valve therapeutic medical device market and the neurointerventional procedural medical device market in China. In the market of transcatheter valve therapeutic medical devices, Peijia Medical is one of the only four domestic players in the China market with transcatheter aortic valve replacement (“TAVR”) products at the clinical trial or more advanced stage, and ranked third in the China transcatheter valve medical device market in terms of the combined number of commercialized products and product candidates in the clinical trial stage, according to Frost & Sullivan. The Group is in the process of completing the confirmatory clinical trial for TaurusOne®, its first-generation TAVR product, and expects to receive the NMPA approval for and launch TaurusOne® in the first or second quarter of 2021. In the market of neurointerventional procedural medical devices, the Group ranked first among domestic players in the China market in terms of the combined number of commercialized products and product candidates in the clinical trial stage, and was the first domestic player to commercialize an embolization coil product in China, according to Frost & Sullivan.

The Group’s products and product candidates target large, fast-growing and under-penetrated markets with high entry barriers. According to Frost & Sullivan, the global TAVR product market is expected to increase from US$4.1 billion in 2018 to US$10.4 billion in 2025 at a CAGR of 14.3%. China’s TAVR product market is also estimated to grow significantly from RMB196.6 million in 2018 to RMB6,332.6 million in 2025, at a CAGR of 64.2%. Only approximately 1,000 TAVR procedures were conducted in China in 2018, representing a penetration rate of approximately 0.1%, indicating huge unmet demand and growth potential. The neurointerventional procedural medical device market in China has also been growing rapidly. The embolization coil market in China is estimated to expand to RMB2,646.7 million in 2025 at a CAGR of 12.3% from 2018 to 2025, and the intracranial aneurysm stent market is estimated to expand to RMB812.2 million in 2025 at a CAGR of 15.0% from 2018 to 2025. Peijia Medical has a comprehensive portfolio of interventional procedural medical device products and product candidates focusing on these two fields. As of April 26, 2020, the Group had developed six registered products, and had an additional 20 product candidates in various stages of development.

Peijia Medical has built a synergetic platform encompassing research and development, manufacturing and commercialization capabilities. The Group’s research and development team is an industry veteran with an impressive academic and professional background, having previously worked in managerial roles at leading industry players. The Group has developed deep relationships with global leaders in both the transcatheter valve therapeutic and neurointerventional domains, including world-class scientists, physicians and industry practitioners, giving the Group a deep understanding of the clinical needs and demands of patients and physicians. The Group’s two state-of-the-art manufacturing facilities located in Suzhou and Shanghai with an area of 15,433.31 sq.m. and 1,188.40 sq.m., respectively, support both the transcatheter valve therapeutic and neurointerventional businesses and comply with the GMP requirements in the EU and China. The Group follows rigorous manufacturing and quality control standards to ensure high product quality and safety. In addition, the Group has developed strong commercialization capabilities. The Group currently focuses on academic promotion for its transcatheter valve therapeutic product candidates, working closely with renowned physicians, conducting product demonstrations and providing training to physicians. As of April 26, 2020, Peijia Medical had successfully commercialized five neurointerventional procedural products. The Group has established an extensive distribution network to sell these products, comprising 65 distributors as at December 31, 2019, including 62 distributors in China and three overseas.

Dr. Yi Zhang, Executive Director, Chairman of the Board, Chief Executive Officer and Chief Technology Officer of Peijia Medical Limited, said, “Heart diseases and neurovascular diseases are among the top causes of death, both in China and globally. Interventional therapies, especially catheter-based interventional therapies, can effectively treat such diseases, but the markets for transcatheter valve therapeutic and neurointerventional procedural medical devices in China are still at an early stage of development with considerable potential for growth. As one of the only four domestic players in the China market with TAVR products at the clinical trial or more advanced stage, we have significant early-mover advantages. We believe we are very well positioned to compete in this market and solidify its leading position in light of Peijia Medical’s strong research and development capabilities and technological capability, the advanced features incorporated into the product candidates, proven commercialization capabilities with well-established commercialization infrastructure and robust distribution network.”

In order to become a world-renowned medical device platform that provides total treatment solutions for structural heart and neurovascular diseases, Peijia Medical intends to expedite the commercialization of its product candidates, especially the Group’s Core Product, TaurusOne®, in order to enjoy an “early-mover” advantage in the under-penetrated and fast-growing TAVR market in China. In addition to TAVR products, the Group also plans to expedite the commercialization of its stent retriever product used for mechanical thrombectomy procedures. The Group is currently in the process of completing the clinical trial for Shenyi® Stent Retriever, and plans to apply for its registration with the National Medical Products Administration of the PRC (“NMPA”) in the second quarter of 2021. Peijia Medical expects to be the second domestic player in the China market offering a commercialized stent retriever product.

As a leading domestic player in the transcatheter valve therapeutic and neurointerventional procedural medical device markets in China, the Group strives to maintain and enhance its research and development capabilities to solidify the Group’s leading position and to fuel the long-term growth. The Group intends to continue to leverage the astute judgment about the technology trends and the deep understanding of physicians’ and patients’ needs, to identify other opportunities within these fields or other fields with high growth potential. In doing so, the Group plans to further grow its in-house research and development team by attracting and retaining high-caliber talents and enhancing its fundamental research and development capabilities. Peijia Medical currently has 20 product candidates in the transcatheter valve therapeutic and neurointerventional domains, and the Group strives to further expand its product portfolio through its research and development efforts. The Group currently plans to start clinical trials for TaurusNXT, transcatheter mitral valve replacement (“TMVR”) device and transcatheter tricuspid valve replacement (“TTVR”) device in the fourth quarter of 2020, early 2021 and early 2022, respectively. Additionally, the Group has several transcatheter valve therapeutic and neurointerventional procedural product candidates in various development stages, including the innovative lithotripsy valvuloplasty catheter and the balloon aortic valvuloplasty catheter. The Group plans to continue to invest in the development of these products, and to enrich the product pipeline, in order to address unmet market demand.

In March 2019, the Group integrated Achieva Medical Limited’s (“Achieva”) business in its newly established neurointerventional business unit and streamlined the organizational structure of the enlarged group by merging certain teams shared by both business units, such as human resources, finance, clinical trial management, and marketing. All revenue of the Group (or Achieva, as applicable) was generated from the sales of neurointerventional procedural medical devices by Achieva, including Jasper® Detachable Coil, Presgo® Detachable Coil, Presgo® Micro Guidewire, Presgo® Micro Catheter and Jasper® Power Supply.

Dr. Yi Zhang concluded, “Peijia Medical stays true to itself. We will continue to focus on the high-growth interventional procedural medical device market in China, strive to become a world-renowned medical device platform that provides total treatment solutions for structural heart and neurovascular diseases. In the future, we will expedite the commercialization of our product candidates, further strengthen our research and development capabilities, expand the product portfolio, and continue to synergize the business and boost operational efficiency. Meanwhile, we will make full use of our competitive advantages, seize opportunities arising from market development, actively enhance core competitiveness, as well as achieve sustainable development to create the greatest value for the shareholders and investors.”

– More –

 

Peijia Medical Limited
沛嘉醫療有限公司

Fact Sheet

Information on the Global Offering:

Number of Offer Shares under the Global Offering : 152,511,000 Shares (subject to the Over-allotment Option)
Number of Hong Kong Offer Shares : 15,252,000 Shares (subject to reallocation)
Number of International Offer Shares : 137,259,000 Shares (subject to reallocation and the Over-allotment Option)
Offer Price

 

:

 

HK$15.36 per Offer Share, plus brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005% (payable in full on application in Hong Kong dollars and subject to refund)
Board Lots : 1,000 Shares
Start of the Hong Kong Public Offering : 9:00 a.m., May 5, 2020 (Tuesday)
End of the Hong Kong Public Offering : 12:00 noon, May 8, 2020 (Friday)
Announcement of Allotment Results : May 14, 2020 (Thursday)
Expected Listing Date : May 15, 2020 (Friday)
Stock Code : 9996

Use of Proceeds

Estimate that the Group will receive net proceeds of approximately HK$2,200.3 million after deducting the underwriting fees and expenses payable by the Group in the Global Offering and taking into account any additional incentive fee (assuming the full payment of the discretionary incentive fee), assuming that the Over-allotment Option is not exercised and based on an Offer Price of HK$15.36 per Offer Share. The Group intends to use the net proceeds it will receive from the Global Offering for the following purposes, subject to changes in light of its evolving business needs and changing market conditions:

Use of Proceeds: Approximate Amount
(HK$ million)
As a Percentage of
Total Amount
For the development and commercialization of the Group’s Core Product, TaurusOne® 770.1 35.0%
For the development and commercialization of the Group’s other major product candidates, including TaurusElite, TaurusNXT and Shenyi® Stent Retriever 660.1 30.0%
For the Group’s ongoing pre-clinical studies and planned clinical trials, preparation for registration filings and potential commercial launches (including sales and marketing) of the other product candidates in the Group’s pipeline 220.0 10.0%
For strengthening the Group’s research and development capabilities to enrich its product pipeline 176.0 8.0%
For expanding the Group’s product portfolio and intellectual property portfolio through potential strategic acquisitions, investments, partnership and licensing opportunities 220.0 10.0%
For working capital and other general corporate purposes 154.1 7.0%

– End –

About Peijia Medical Limited
Peijia Medical Limited is a leading domestic player in each of the transcatheter valve therapeutic medical device market and neurointerventional procedural medical device market in China. It focuses on the high-growth interventional procedural medical device market in China. Peijia Medical has built a synergetic platform encompassing research and development, manufacturing and commercialization capabilities as well as a comprehensive product portfolio. Reverence for life, perseverance on innovation: Peijia Medical is committed to becoming a world-renowned medical device company that provides total treatment solutions for structural heart and neurovascular diseases.

Issued by Porda Havas International Finance Communications Group for and on behalf of Peijia Medical Limited. For further information, please contact:

Porda Havas International Finance Communications Group
Terence Wong +852 3150 6773 terence.wong@pordahavas.com
Phoenix Fung +852 3150 6786 phoenix.fung@pordahavas.com
Christy Ng +852 3120 6515 christy.ng@pordahavas.com
Renee Zheng +852 3150 6755 r.zheng@pordahavas.com
Yoyo Chan +852 3150 6753 yoyo.chan@pordahavas.com
Fax: +852 3150 6728

Not for distribution, directly or indirectly, in or into the United States
This press release shall not, and is not intended to, constitute an offer to sell or an invitation or solicitation of an offer to buy or subscribe for the securities of Peijia Medical Limited in the United States or any other jurisdiction. Securities may not be offered or sold in the United States absent registration under the United States Securities Act of 1933, as amended (the “Securities Act”) or an applicable exemption from the registration requirements of the Securities Act. Any public offering of securities to be made in the United States will be made by means of a prospectus that may be obtained from the issuer or selling security holder and that will contain detailed information about the Company and management, as well as financial statements. The securities referred to herein have not been and will not be registered under the Securities Act or any state securities laws of the United States, or under the applicable securities laws of Australia or Canada. No public offering of the securities referred to herein will be made in the United States or in any jurisdiction outside of Hong Kong. No copy of this press release has been or should be distributed or sent, directly or indirectly, to the United States, its territories or possessions.
This press release contains forward-looking statements and you are cautioned not to place undue reliance on any forward-looking statements contained herein. We can give no assurance that these forward-looking statements will prove to have been correct. Expectations reflected in these forward-looking statements are subject to change and we undertake no obligation and do not intend to update or revise any forward-looking statements herein.

 

Peijia Medical Announces Proposed Listing on the Main Board of the Hong Kong Stock Exchange
Offer Price Set at HK$15.36 per Offer Share To Raise Proceeds of HK2.343 Billion

A leading domestic player in the high-growth transcatheter valve therapeutic and neurointerventional procedural medical device markets
Had developed six registered products and had an additional 20 product candidates in various stages of development

(Hong Kong, May 5, 2020) A leading domestic player in the high-growth transcatheter valve therapeutic and neurointerventional procedural medical device markets – Peijia Medical Limited (“Peijia Medical” or the “Company”, together with its subsidiaries, the “Group”, stock code: 9996), today announced the proposed listing of its shares on the Main Board of The Stock Exchange of Hong Kong Limited (“Hong Kong Stock Exchange”).

Peijia Medical plans to offer 152,511,000 shares (subject to the Over-allotment Option), of which 137,259,000 shares will be international offer shares (subject to reallocation and the Over-allotment Option), representing approximately 90% of the initial offer shares; the remaining 15,252,000 shares will be Hong Kong offer shares (subject to reallocation), representing approximately 10% of the initial offer shares. Offer price is set at HK$15.36 per offer share. Peijia Medical will open for Hong Kong Public Offering in Hong Kong at 9 a.m., May 5, 2020 (Tuesday), and close at 12:00 noon, May 8, 2020 (Friday). Dealings in shares of Peijia Medical on the Main Board of the Hong Kong Stock Exchange is expected to commence on May 15, 2020 (Friday). The shares will be traded in board lots of 1,000 shares each. The Company’s stock code will be 9996.

  • Morgan Stanley Asia Limited and Huatai Financial Holdings (Hong Kong) Limited are the Joint Sponsors.
  • Morgan Stanley Asia Limited, Huatai Financial Holdings (Hong Kong) Limited, BOCI Asia Limited and UBS AG Hong Kong Branch are the Joint Global Coordinators.
  • Morgan Stanley Asia Limited (in relation to the Hong Kong Public Offering), Morgan Stanley & Co. International plc (in relation to the International Offering), Huatai Financial Holdings (Hong Kong) Limited, BOCI Asia Limited, UBS AG Hong Kong Branch, CMB International Capital Limited and Guotai Junan Securities (Hong Kong) Limited are the Joint Bookrunners and Joint Lead Managers.

Peijia Medical focuses on the high-growth interventional procedural medical device market in China, and is a leading domestic player in each of the transcatheter valve therapeutic medical device market and the neurointerventional procedural medical device market in China. In the market of transcatheter valve therapeutic medical devices, Peijia Medical is one of the only four domestic players in the China market with transcatheter aortic valve replacement (“TAVR”) products at the clinical trial or more advanced stage, and ranked third in the China transcatheter valve medical device market in terms of the combined number of commercialized products and product candidates in the clinical trial stage, according to Frost & Sullivan. The Group is in the process of completing the confirmatory clinical trial for TaurusOne®, its first-generation TAVR product, and expects to receive the NMPA approval for and launch TaurusOne® in the first or second quarter of 2021. In the market of neurointerventional procedural medical devices, the Group ranked first among domestic players in the China market in terms of the combined number of commercialized products and product candidates in the clinical trial stage, and was the first domestic player to commercialize an embolization coil product in China, according to Frost & Sullivan.

The Group’s products and product candidates target large, fast-growing and under-penetrated markets with high entry barriers. According to Frost & Sullivan, the global TAVR product market is expected to increase from US$4.1 billion in 2018 to US$10.4 billion in 2025 at a CAGR of 14.3%. China’s TAVR product market is also estimated to grow significantly from RMB196.6 million in 2018 to RMB6,332.6 million in 2025, at a CAGR of 64.2%. Only approximately 1,000 TAVR procedures were conducted in China in 2018, representing a penetration rate of approximately 0.1%, indicating huge unmet demand and growth potential. The neurointerventional procedural medical device market in China has also been growing rapidly. The embolization coil market in China is estimated to expand to RMB2,646.7 million in 2025 at a CAGR of 12.3% from 2018 to 2025, and the intracranial aneurysm stent market is estimated to expand to RMB812.2 million in 2025 at a CAGR of 15.0% from 2018 to 2025. Peijia Medical has a comprehensive portfolio of interventional procedural medical device products and product candidates focusing on these two fields. As of April 26, 2020, the Group had developed six registered products, and had an additional 20 product candidates in various stages of development.

Peijia Medical has built a synergetic platform encompassing research and development, manufacturing and commercialization capabilities. The Group’s research and development team is an industry veteran with an impressive academic and professional background, having previously worked in managerial roles at leading industry players. The Group has developed deep relationships with global leaders in both the transcatheter valve therapeutic and neurointerventional domains, including world-class scientists, physicians and industry practitioners, giving the Group a deep understanding of the clinical needs and demands of patients and physicians. The Group’s two state-of-the-art manufacturing facilities located in Suzhou and Shanghai with an area of 15,433.31 sq.m. and 1,188.40 sq.m., respectively, support both the transcatheter valve therapeutic and neurointerventional businesses and comply with the GMP requirements in the EU and China. The Group follows rigorous manufacturing and quality control standards to ensure high product quality and safety. In addition, the Group has developed strong commercialization capabilities. The Group currently focuses on academic promotion for its transcatheter valve therapeutic product candidates, working closely with renowned physicians, conducting product demonstrations and providing training to physicians. As of April 26, 2020, Peijia Medical had successfully commercialized five neurointerventional procedural products. The Group has established an extensive distribution network to sell these products, comprising 65 distributors as at December 31, 2019, including 62 distributors in China and three overseas.

Dr. Yi Zhang, Executive Director, Chairman of the Board, Chief Executive Officer and Chief Technology Officer of Peijia Medical Limited, said, “Heart diseases and neurovascular diseases are among the top causes of death, both in China and globally. Interventional therapies, especially catheter-based interventional therapies, can effectively treat such diseases, but the markets for transcatheter valve therapeutic and neurointerventional procedural medical devices in China are still at an early stage of development with considerable potential for growth. As one of the only four domestic players in the China market with TAVR products at the clinical trial or more advanced stage, we have significant early-mover advantages. We believe we are very well positioned to compete in this market and solidify its leading position in light of Peijia Medical’s strong research and development capabilities and technological capability, the advanced features incorporated into the product candidates, proven commercialization capabilities with well-established commercialization infrastructure and robust distribution network.”

In order to become a world-renowned medical device platform that provides total treatment solutions for structural heart and neurovascular diseases, Peijia Medical intends to expedite the commercialization of its product candidates, especially the Group’s Core Product, TaurusOne®, in order to enjoy an “early-mover” advantage in the under-penetrated and fast-growing TAVR market in China. In addition to TAVR products, the Group also plans to expedite the commercialization of its stent retriever product used for mechanical thrombectomy procedures. The Group is currently in the process of completing the clinical trial for Shenyi® Stent Retriever, and plans to apply for its registration with the National Medical Products Administration of the PRC (“NMPA”) in the second quarter of 2021. Peijia Medical expects to be the second domestic player in the China market offering a commercialized stent retriever product.

As a leading domestic player in the transcatheter valve therapeutic and neurointerventional procedural medical device markets in China, the Group strives to maintain and enhance its research and development capabilities to solidify the Group’s leading position and to fuel the long-term growth. The Group intends to continue to leverage the astute judgment about the technology trends and the deep understanding of physicians’ and patients’ needs, to identify other opportunities within these fields or other fields with high growth potential. In doing so, the Group plans to further grow its in-house research and development team by attracting and retaining high-caliber talents and enhancing its fundamental research and development capabilities. Peijia Medical currently has 20 product candidates in the transcatheter valve therapeutic and neurointerventional domains, and the Group strives to further expand its product portfolio through its research and development efforts. The Group currently plans to start clinical trials for TaurusNXT, transcatheter mitral valve replacement (“TMVR”) device and transcatheter tricuspid valve replacement (“TTVR”) device in the fourth quarter of 2020, early 2021 and early 2022, respectively. Additionally, the Group has several transcatheter valve therapeutic and neurointerventional procedural product candidates in various development stages, including the innovative lithotripsy valvuloplasty catheter and the balloon aortic valvuloplasty catheter. The Group plans to continue to invest in the development of these products, and to enrich the product pipeline, in order to address unmet market demand.

In March 2019, the Group integrated Achieva Medical Limited’s (“Achieva”) business in its newly established neurointerventional business unit and streamlined the organizational structure of the enlarged group by merging certain teams shared by both business units, such as human resources, finance, clinical trial management, and marketing. All revenue of the Group (or Achieva, as applicable) was generated from the sales of neurointerventional procedural medical devices by Achieva, including Jasper® Detachable Coil, Presgo® Detachable Coil, Presgo® Micro Guidewire, Presgo® Micro Catheter and Jasper® Power Supply.

Dr. Yi Zhang concluded, “Peijia Medical stays true to itself. We will continue to focus on the high-growth interventional procedural medical device market in China, strive to become a world-renowned medical device platform that provides total treatment solutions for structural heart and neurovascular diseases. In the future, we will expedite the commercialization of our product candidates, further strengthen our research and development capabilities, expand the product portfolio, and continue to synergize the business and boost operational efficiency. Meanwhile, we will make full use of our competitive advantages, seize opportunities arising from market development, actively enhance core competitiveness, as well as achieve sustainable development to create the greatest value for the shareholders and investors.”

– More –

 

Peijia Medical Limited
沛嘉醫療有限公司

Fact Sheet

Information on the Global Offering:

Number of Offer Shares under the Global Offering : 152,511,000 Shares (subject to the Over-allotment Option)
Number of Hong Kong Offer Shares : 15,252,000 Shares (subject to reallocation)
Number of International Offer Shares : 137,259,000 Shares (subject to reallocation and the Over-allotment Option)
Offer Price

 

:

 

HK$15.36 per Offer Share, plus brokerage of 1%, SFC transaction levy of 0.0027% and Stock Exchange trading fee of 0.005% (payable in full on application in Hong Kong dollars and subject to refund)
Board Lots : 1,000 Shares
Start of the Hong Kong Public Offering : 9:00 a.m., May 5, 2020 (Tuesday)
End of the Hong Kong Public Offering : 12:00 noon, May 8, 2020 (Friday)
Announcement of Allotment Results : May 14, 2020 (Thursday)
Expected Listing Date : May 15, 2020 (Friday)
Stock Code : 9996

Use of Proceeds

Estimate that the Group will receive net proceeds of approximately HK$2,200.3 million after deducting the underwriting fees and expenses payable by the Group in the Global Offering and taking into account any additional incentive fee (assuming the full payment of the discretionary incentive fee), assuming that the Over-allotment Option is not exercised and based on an Offer Price of HK$15.36 per Offer Share. The Group intends to use the net proceeds it will receive from the Global Offering for the following purposes, subject to changes in light of its evolving business needs and changing market conditions:

Use of Proceeds: Approximate Amount
(HK$ million)
As a Percentage of
Total Amount
For the development and commercialization of the Group’s Core Product, TaurusOne® 770.1 35.0%
For the development and commercialization of the Group’s other major product candidates, including TaurusElite, TaurusNXT and Shenyi® Stent Retriever 660.1 30.0%
For the Group’s ongoing pre-clinical studies and planned clinical trials, preparation for registration filings and potential commercial launches (including sales and marketing) of the other product candidates in the Group’s pipeline 220.0 10.0%
For strengthening the Group’s research and development capabilities to enrich its product pipeline 176.0 8.0%
For expanding the Group’s product portfolio and intellectual property portfolio through potential strategic acquisitions, investments, partnership and licensing opportunities 220.0 10.0%
For working capital and other general corporate purposes 154.1 7.0%

– End –

About Peijia Medical Limited
Peijia Medical Limited is a leading domestic player in each of the transcatheter valve therapeutic medical device market and neurointerventional procedural medical device market in China. It focuses on the high-growth interventional procedural medical device market in China. Peijia Medical has built a synergetic platform encompassing research and development, manufacturing and commercialization capabilities as well as a comprehensive product portfolio. Reverence for life, perseverance on innovation: Peijia Medical is committed to becoming a world-renowned medical device company that provides total treatment solutions for structural heart and neurovascular diseases.

Issued by Porda Havas International Finance Communications Group for and on behalf of Peijia Medical Limited. For further information, please contact:

Porda Havas International Finance Communications Group
Terence Wong +852 3150 6773 terence.wong@pordahavas.com
Phoenix Fung +852 3150 6786 phoenix.fung@pordahavas.com
Christy Ng +852 3120 6515 christy.ng@pordahavas.com
Renee Zheng +852 3150 6755 r.zheng@pordahavas.com
Yoyo Chan +852 3150 6753 yoyo.chan@pordahavas.com
Fax: +852 3150 6728