On 25 July 2022, the new program China-Switzerland Stock Connect entered into force, meaning that Chinese companies can list its GDRs in Switzerland. In addition to that, a separate trading segment for GDRs was established, as well as shortened trading hours between 3 p.m. and 5.40 p.m. applied.
Lepu Medical Technology has placed 17,684,396 GDRs at an offer price of USD 12.68 per GDR, with one GDR representing an interest in five A shares of the company. The company has raised gross proceeds of approximately USD 224 million from the offering.
Dr. PU Zhongjie, Chairman of the Board and Head of Technology of Lepu Medical, says: “We are delighted to complete our GDR offering and listing on SIX Swiss Exchange today. This is the start of a new and exciting chapter for us at Lepu Medical. We look forward to connecting more deeply with global investors and partners, and bringing our innovative cardiovascular disease management solutions to more parts of the world”.
Jos Dijsselhof, CEO SIX, emphasizes: “We are delighted to welcome Lepu Medical Technology to our exchange today. We see a high interest for GDR-listings from Chinese companies – so far especially from the sectors renewable energy and life sciences. This is a great proof of the attractiveness of SIX Swiss Exchange for internationally active, growth-seeking companies. I am convinced that with today's listing of its GDRs, Lepu Medical Technology is taking a decisive step towards its worldwide expansion as well as further raising its profile globally.“