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7.2¢ g medical innovations holdings limited

Wow cool, thanks. So Biotech has its own rules in HKEX.On a...

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IronChef

68 Posts.

24

28/03/19

14:59

Post #: 37915486
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Originally posted by Low Key: ↑

Hi Iron Chef,

From the announcement:

"Under the terms of the Agreement, UOB will obtain an in-principle approval from the Hong Kong StockExchange to proceed with the listing application, with the initial market capitalisation of GYIMSTC Ltdto be at least HK$1,500,000,000 (~A$260 million), as required under the Hong Kong Stock ExchangeListing Rules for biotech companies (Chapter 18A provisions). G Medical will also provide a submissionto the ASX to determine the requirements to proceed with the proposed IPO of GYIMSTC Ltd. GMedical advises that it previously disclosed this potential IPO in its ASX announcement dated 22 May2017 in respect of the joint venture agreement in China."

I have then googled biotech HK, and you will come across this:

https://www.hkex.com.hk/-/media/HKEX-Market/Listing/Rules-and-Guidance/Listing-Rules-Contingency/Main-Board-Listing-Rules/Equity-Securities/chapter_18a.pdf?la=en

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Wow cool, thanks. So Biotech has its own rules in HKEX.

On a philosophical note, if the wholly owned subsidiary is worth US $200M -- how can the parent not be worth much more?

GMV Price at posting: 28.0¢ Sentiment: Hold Disclosure: Held
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