H-Shares Are Now On Sale At &Nbsp, And Executives Say They Will Be Able To Buy A Shares At The End Of 50%.

The Shanghai Pharmaceutical Group Limited by Share Ltd took a key step in landing H-shares. At the 9 point in May 6th, Shanghai pharmaceutical sold 664214000 H-shares globally, with a stock code of 02607, ending at 12 noon in May 12th.

Shanghai medicine H-share is scheduled to start trading on the main board of Hongkong stock exchange in May 20th.

4 companies invest $550 million.

The Shanghai medicine H-share index issue price is HK $21.80 to HK $26 per share, of which about 95% of H-shares are initially used for international sale, while the remaining 5% are publicly issued in Hongkong.

Investors will buy and sell 100 shares per hand, and the admission fee will be 2626.21 yuan.

As a stable price controller, Goldman Sachs (Asia) limited liability company has acquired over 99632100 shares of Shanghai medical H shares and over allotted shares.

Assuming that the selling price is HK $23.90 per share, that is, the intermediate price of HK $21.80 to HK $26 per share of the target issue price, the company expects to sell about 15 billion 275 million Hong Kong dollars worldwide in the case of deducting underwriting expenses and projected expenses and failing to exercise excess allotment rights.

Shanghai pharmaceutical announced yesterday through a news conference that the company has signed investment agreements with a number of cornerstone investors, including the pharmaceutical giant Pfizer Inc, Singapore's sovereign investment fund Temasek, Malaysia guhao group and Bank of China.

The 4 cornerstone investors have invested a total of 550 million US dollars to buy Shanghai medical H-shares, and the restricted periods are 12 months after the listing of H-shares. Most of the past H-share IPO cornerstone investors have a lock up period of 6 months.

Shanghai medicine said that this shows that the long-term investment value of the company is highly recognized by the cornerstone investors.

Top executives will buy A shares at the end of 50%.

For the purpose of fund-raising, Shanghai medicine said that about 40% will be used to expand and strengthen the company's distribution network and integrate existing distribution networks, mainly in eastern China, North China and Southern China; about 30% will be used for strategic acquisitions of domestic and international pharmaceutical manufacturing businesses in China, and internal integration of the existing pharmaceutical business of the company; the rest will be equally distributed to product development, information technology systems and company working capital requirements.

Shanghai medicine also said that in this IPO, the company realized the innovation of management incentives, and pioneered the long-term incentive mode of collective management at market prices.

The specific form is that the executives of each company make a commitment to agree to the 50% of the year-end bonus issued by the board of directors on the premise of compliance with the laws and regulations, and to purchase A shares of the company within a certain period after receiving the bonus; and not to sell the above A shares before the end of the employment period or 6 months before leaving the office.

Shanghai pharmaceutical management is optimistic about the development of the company. In the H share prospectus, Shanghai pharmaceutical expects that the combined earnings of the holders of the shares will be no less than 2 billion 100 million yuan in 2011.