EC Healthcare Further Issue Shares to Strategic Shareholder Dr. Cheng Chi Kong and Aspex Management To Enhance Collaboration in Deploying Medical Real Estate Strategy
HONG KONG, Jul 09, 2021 - (ACN Newswire) - EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong, announces that the Group's strategic shareholders Dr. Cheng Chi Kong and Aspex Management further increase equity stake in the Group via Top-up Placing, further enhancing the strategic relationship and empowering the Group's development.
The Group conditionally agreed to effectively issue and allot 6,455,172 and 10,758,621 new Shares at HK$14.50 per Share to Dr. Cheng Chi Kong, Adrian JP and Aspex Master Fund (the "Purchasers"), respectively, through Top-up Placing. Such shares representing approximately 1.55% of the issued share capital of the Company and approximately 1.53% of its enlarged issued share capital immediately following the Top-up Placing. The Group expects to receive net proceeds of approximately HK$248.8 million from the transaction and intends to use the proceeds for clinic network expansion in Hong Kong and the Greater Bay Area in the PRC, mergers and acquisitions and general corporate purposes. Haitong International Securities Company Limited is the placing agent.
The Group had placed an aggregate of 29,636,000 shares at HK$7.80 per share to Dr. Cheng and Aspex Management in April 2021. Upon the completion of this transaction, the stake holding of the strategic shareholders will increase from 2.69% to 6.53% of the enlarged issued share capital of the Company.
This transaction is a private investment by Dr. Cheng Chi Kong. Dr. Cheng is a cultural entrepreneur who engaged in retail, hotels, and office buildings businesses in Greater China. He founded the K11 brand which combines the concepts of museum and retail. Dr. Cheng also manages commercial and residential properties in core cities of mainland China and leads the development of Victoria Dockside, a large-scale commercial real estate project in Hong Kong, and the Sky City project in Hong Kong International Airport related to medical tourism of New World Development Co., Ltd. The increase in the holding of shares by Dr. Cheng enhanced a stronger relationship between the Group and the strategic investors. By leveraging on Dr. Cheng's related strategic value of high-quality investment properties across Hong Kong and mainland China the Group can better facilitate the precise layout and deploy the medical real estate strategy.
Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "The Group is delighted to see our strategic investors, Dr. Cheng and Aspex Management demonstrating strong confidence in our future business outlook. The Group believes the share issuance will also optimize the shareholders base and increase its public float. The Group has been focusing on expanding its foothold in the Guangdong-Hong Kong-Macao Greater Bay Area and regards the strategic partnership with the property giant as one of our important strategies. We believe that the long-term partnerships with the two investors allow the Group to accelerate the deployment of its resources for business development with precision in the Greater Bay Area as it aims to scale new heights."
About EC Healthcare EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism.
The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for years, primary care clinics jointly established with Tencent Doctorwork, chiropractic services centre SPINE Central, New York Spine and Physiotherapy Center NYMG, health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, a comprehensive dental centre UMH DENTAL CARE, a diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic SPECIALISTS CENTRAL and NEW MEDICAL CENTER, obstetrics and gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, specialists central, a paediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL CARDIOLOGY CENTER, PathLab Medical Laboratories and a professional hair care center HAIR FOREST.
*According to an independent research conducted by Frost and Sullivan in terms of revenue in 2019 and 2020
About Dr. Cheng Chi Kong Dr. Cheng Chi Kong, Adrian is a visionary leader and a cultural entrepreneur in a new era. He heads the New World Group and Chow Tai Fook Jewellery Group, and is the founder of the K11 brand and C Ventures. Dr. Cheng is responsible for formulating the strategy for the development strategy and the guiding principle for the operation of the Cheng family's business empire and is the third-generation leader of the Cheng family, which is one of the world's most prominent and influential families. The Cheng family is ranked third in Forbes' "Hong Kong's Richest 2021 List with total assets of over US$88 billion as of 31 December 2020. Dr. Cheng is also a prominent and renowned investor with extensive experience and a strong track record.
About Aspex Aspex Management is an investment management firm focused on pan-Asian opportunities across both the public and private equity markets. The firm looks to invest in industries and partner with companies exposed to large addressable markets with long-term growth potential as well as those undergoing structural changes. Aspex invests capital on behalf of endowments, non-profit foundations, family offices and outsourced investment offices across the globe.
For further information, please contact: iPR Ogilvy Limited Callis Lau / Lorraine Luk / Ada Chew Tel: (852) 2136 6952 / 2169 0467 / 3920 7650 Fax: (852) 3170 6606 Email: ech@iprogilvy.com
Source: EC Healthcare Sectors: Healthcare & Pharm
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
|
Latest Release
First-ever Mazda CX-80 Crossover SUV Unveiled in Europe Apr 19, 2024 13:50 JST
| Fujitsu develops technology to convert corporate digital identity credentials, enabling participation of non-European companies in European data spaces Apr 19, 2024 10:17 JST
| Mitsubishi Heavy Industries and NGK to Jointly Develop Hydrogen Purification System from Ammonia Cracking Gas Apr 18, 2024 17:01 JST
| Toyota Launches All-New Land Cruiser "250" Series in Japan Apr 18, 2024 13:39 JST
| Fujitsu and Oracle collaborate to deliver sovereign cloud and AI capabilities in Japan Apr 18, 2024 11:14 JST
| Eisai: Research on Treatments for Alzheimer's Disease Based on Its Pathological Mechanisms Recieves Award for Science and Technology (Research Category) Apr 18, 2024 10:53 JST
| All-New Triton Confirmed as First Double-Cab Pickup Truck to Achieve 2024 Five-Star ANCAP Safety Rating Apr 18, 2024 09:22 JST
| Eisai's Antiepileptic Drug Fycompa Injection Formulation Launched In Japan Apr 17, 2024 16:17 JST
| Honda Unveils Next-generation EV Series for China Apr 17, 2024 12:15 JST
| Lexus presents Time at the 2024 Milan Design Week Apr 16, 2024 18:49 JST
| Mitsubishi Corporation Announces Participation in a DAC Project in Louisiana, USA Apr 16, 2024 14:36 JST
| New circuit challenge for TOYOTA GAZOO Racing Apr 15, 2024 17:21 JST
| TOYOTA GAZOO Racing back on asphalt for Croatian challenge Apr 12, 2024 19:36 JST
| Heidelberg Materials North America Announces Latest Milestone in Edmonton CCUS Project Apr 12, 2024 14:39 JST
| MHIAEL Completes Expansion of the its Nagasaki Plant for Manufacture of Aero Engine Combustors Apr 11, 2024 18:08 JST
| Mitsubishi Shipbuilding Acquires Approval in Principle (AiP) from Classification Society ClassNK for Ammonia Fuel Supply System (AFSS) Apr 11, 2024 17:50 JST
| DOCOMO, NTT, NEC and Fujitsu Develop Top-level Sub-terahertz 6G Device Capable of Ultra-high-speed 100 Gbps Transmission Apr 11, 2024 15:10 JST
| Mitsubishi Corporation Announces Completion of Capital Raise by Nexamp Apr 11, 2024 13:07 JST
| Mitsubishi Shipbuilding Receives Order for Ammonia Fuel Supply System for Ammonia-Powered Marine Engine Apr 10, 2024 16:55 JST
| Transgene and NEC Present First Clinical Benefits of Neoantigen Cancer Vaccine, TG4050, in Head & Neck Cancer at AACR 2024 Apr 10, 2024 13:36 JST
|
More Latest Release >>
|