PricewaterhouseCoopers (01358) issued an announcement. The company is considering a proposal to split its non-wholly-owned subsidiary Sichuan Ruijian Healthcare in all...
According to the Zhitong Finance App, Pratt & Young (01358) issued an announcement. The company is considering a proposal to split its non-wholly-owned subsidiary, Sichuan Ruijian Medical, for independent listing in the national SME share transfer system (no new shares will be issued), and then listed on the Beijing Stock Exchange according to current market conditions and strategic developments.
Sichuan Ruijian Medical is a medical device company, mainly engaged in R&D, manufacture and sale of medical devices for blood purification.
The Company has submitted an application for the proposed spin-off to the Stock Exchange for approval in accordance with Section 15 of the Application Guidelines. As of the date of this announcement, the Stock Exchange has confirmed that the company can proceed with a proposed spin-off in accordance with the application guidelines in section 15 of the listing rules. Furthermore, the company has applied for and the Stock Exchange has approved an exemption from the guaranteed quota requirements under paragraph 3 (f) of the Application Guidelines for Section 15 of the Listing Rules.
Depending on market conditions at that time, Sichuan Ruijian Medical plans to submit an application for listing on the National Small and Medium Enterprises Share Transfer System as early as the second quarter of 2024.
The company expects that the listing on the national SME share transfer system will not involve any new shares issued by Sichuan Ruijian Medical, and that subsequent listing will involve the issuance of new shares by Sichuan Ruijian Medical, subject to approval from relevant departments such as the China Securities Regulatory Commission and the Beijing Stock Exchange and shareholder approval (if required by the listing rules). Sichuan Ruijian Medical intends to continue as a subsidiary of the company after the proposed spin-off is completed, subject to evaluation by the company and its auditors in accordance with Hong Kong financial reporting standards.