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Everpride Biopharmaceutical Lists on HK GEM
Everpride Biopharmaceutical (Everpride), a company from the Chinese mainland, is listed on Hong Kong Growth Enterprises Market (GEM) Friday, raising around 60 million Hong Kong dollars (about 7.69 million U.S. dollars).
Everpride offered 140 million new shares by way of placing with the offer price 0.495 Hong Kong dollars (about 6.35 U.S. cents) per share and the subscription rate was more than 10 times. The sponsor and lead manager is DBS Asia Capital Limited.
Everpride set up in 1995 with its headquarters in Taigu County of Shanxi province. Currently, its core product is a product of Chinese medicine called "Plasmin Capsule." The product passed an import clearance from the U.S. Customs and FDA.
Chung Chi Mang, chairman of Everpride, believes the listing of Everpride on GEM can enhance its corporate profile.
He said the company would put emphasize on the research and development on cardiovascular and cerebrovascular diseases and new products in the future.
At the same time, Everpride would enhance its sales and distribution network and further develop the overseas markets, he added.
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