Since July 2022, Chinese companies can list their GDRs in Switzerland. In order to do so, a separate trading segment for GDRs was established, as well as shortened trading hours between 3 p.m. and 5.40 p.m. applied.
Today’s newcomer Joincare Pharmaceutical Group placed 6,382,500 GDRs at an offer price of USD 14.42 per GDR, with one (1) GDR representing an interest in ten (10) A-shares of the company. The A-shares of the company are listed on the Shanghai Stock Exchange. Joincare Pharmaceutical Group raised gross proceeds of approximately USD 92.0 million from the GDRs offering.
Mr. Zhu Baoguo, Chairman Joincare Pharmaceutical Group, says: “We are delighted with the successful GDR offering, and we would like to extend our gratitude to our investors for their full confidence in and recognition of the company. This is an important milestone of Joincare’s internationalization.”
Jos Dijsselhof, CEO SIX, emphasizes: “We are delighted to welcome Joincare Pharmaceutical Group to our exchange today. This GDR listing marks the sixth this year already. In total, the six GDR offerings have raised an aggregated amount of approximately USD 1.9 billion, which proves the success of the GDR segment offering by SIX.“