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25/01/2021 17:07

JBM (Healthcare) (02161) to kick off IPO for HK$10.6m

[ET Net News Agency, 25 January 2021] JBM (Healthcare) Limited (02161), a Hong
Kong-based company that markets and distributes branded healthcare products, said it
intends to offer a total of 44.69 million JBM shares for the public offer.
Assuming an offer price of HK$1.2 per share, net proceeds from the public offer are
estimated to be HK$10.6 million. The Hong Kong public offer will begin on 26 January and
will end at noon on 29 January. The allotment results will be announced on 4 February.
Dealing in JBM Healthcare's shares will commence on the main board of the stock exchange
on 5 February.
China Galaxy International Securities (Hong Kong) Co.is the sole sponsor of the listing.
Jacobson Pharma Corporation (02633) indirectly holds 85.04% of JBM Shares. Upon
completion of the proposed spin-off, Jacobson Pharma will hold not less than 50% of the
shares of JBM Healthcare and that JBM Healthcare will remain a subsidiary of Jacobson
Pharma with its results continue to be consolidated into the accounts of Jacobson Parma.
Jacobson Pharma will effect distribution in specie of a portion of its JBM Shares if the
spin-off proceeds, where each qualifying shareholder of Jacobson Pharma will be entitled
to one JBM Share for every eight shares of Jacobson Pharma held.
JBM Healthcare has received pre-IPO investments from three strategic investors, namely
New Heritage Healthcare Limited, who was one of the cornerstone investors of Jacobson
Pharma during its global offering in 2016 and an existing shareholder of Jacobson Pharma;
Gold Century Assets Limited, which its wholly-owned subsidiary Kin Fung Weisen-U Company
Limited, a joint venture partner of the Group; and Profit Cape Limited, an indirect
wholly-owned subsidiary of Tycoon Group Holdings Limited (03390), who is also JBM
Healthcare's Hong Kong distributor and the parent company of its joint venture partner in
a jointly controlled entity. A total of 97 million JBM shares were issued pursuant to the
pre-IPO investments, representing 11.43% of the total issued JBM shares immediately after
completion of the pre-IPO investments, with an aggregate consideration of HK$97 million.

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