China Medical Announces Secondary Offering of 5,000,000 American Depositary Shares.BEIJING -- China Medical Technologies, Inc. (the "Company") (Nasdaq: CMED CMED Coordinated Medical Emergency Direction CMED Central Massachusetts Emergency Dispatch ), a leading China-based medical device company that develops, manufactures and markets high intensity focused ultrasound HIFU (high intensity focused ultrasound) (sometimes FUS or HIFUS) is a highly precise medical procedure using high-intensity focused ultrasound to heat and destroy pathogenic tissue rapidly. products and advanced in-vitro diagnostic systems, today announced a secondary offering of 5,000,000 American depositary shares ("ADSs"), each representing ten ordinary shares, at a price to the public of US$25.50 per ADS. Golden Meditech (BVI) Company Ltd., General Electric International Operations Company, Inc. and Chengxuan International Ltd. are selling 2,200,000 ADSs, 1,800,000 ADSs and 1,000,000 ADSs, respectively. The Company will not receive any proceeds from the sale of ADSs by these selling shareholders. In addition, Chengxuan International Ltd., Neon Liberty Capital Management LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control and Golden Meditech (BVI) Company Ltd have granted to the underwriters an option to purchase up to an aggregate of additional 750,000 ADSs from them within 30 days from the date of the prospectus. UBS AG and Credit Suisse are acting as joint bookrunners. CIBC World Markets CIBC World Markets is the investment banking division of the Canadian Imperial Bank of Commerce. It helps governments, large companies, and other large institutions obtain capital and credit and is a primary dealer in U.S. Treasury securities. Corp. is acting as a co-manager in this offering. Copies of the final prospectus relating to the offering may be obtained from UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System Investment Bank, Prospectus Department, 299 Park Avenue, New York, NY 10171, or Credit Suisse, Prospectus Department, Eleven Madison Avenue, New York, NY 10010. A registration statement relating to these securities was filed and declared effective by the U.S. Securities and Exchange Commission. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. About China Medical Technologies, Inc. China Medical Technologies, Inc. is a China-based medical device company that develops, manufactures and markets products in China using high intensity focused ultrasound, or HIFU HIFU High-intensity focused ultrasound Surgery A method that focuses ultrasound to heat/ablate target tissue without injuring surrounding structures. See Sonablate 200™. , for the treatment of solid cancers and benign tumors. China Medical believes that it is a leader in the design and development of HIFU tumor therapy devices in China. In addition, China Medical believes that it is the first China-based company to offer an advanced in-vitro diagnostics system, or IVD (Interactive VideoDisc) See interactive video. system, using enhanced chemiluminescence, or ECLIA ECLIA Electrochemiluminescence Immunoassay , technology to detect and monitor various diseases and disorders through laboratory evaluation and analysis of blood, urine or other body fluids. |
|
||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion