China Cord Blood Corporation Announces Full Exercise of Over-Allotment Option

Jan 01, 2010, 20:52 ET from China Cord Blood Corporation

HONG KONG, Jan. 1 /PRNewswire-Asia-FirstCall/ -- China Cord Blood Corporation ("CCBC" or "the Company") (NYSE: CO), China's leading provider of cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services, today announced that the underwriters of its recent public offering of common stock have exercised the remaining portion of their over-allotment option, which will result in the issuance of an additional 181,000 ordinary shares. The option was granted in connection with the public offering of 3,305,786 ordinary shares at a public offering price of $6.05 per share, which closed on November 24, 2009. The closing of the full over-allotment issuance of 495,867 ordinary shares is scheduled for Tuesday, January 5, 2010 and will bring the total gross proceeds of the public offering to $23 million. China Cord Blood Corporation intends to use the net proceeds from the offering for the expansion into new geographical markets, including applications for new licenses and acquisitions and investments, and for the construction and upgrading of facilities in existing geographical markets.

Rodman & Renshaw, LLC, a subsidiary of Rodman & Renshaw Capital Group, Inc. (Nasdaq: RODM) acted as lead Manager of the offering and Macquarie Capital acted as co-manager for the offering.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the securities, 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. This offering has been conducted solely by means of a prospectus supplement and accompanying prospectus relating to the offering of common stock can be obtained by contacting Rodman & Renshaw, LLC, 1251 Avenue of the Americas, New York, NY 10020, or by calling 212-430-1710. An effective registration statement relating to these securities has been filed with the Securities and Exchange Commission.

About China Cord Blood Corporation

China Cord Blood Corporation is the first and the largest cord blood banking operator in China in terms of geographical coverage and is the only cord blood bank operator with more than one license (i.e., Beijing and Guangdong). Under the current PRC government regulations, only one licensed cord blood bank operator is permitted to operate in each licensed region and only six licenses have been issued as of today. China Cord Blood Corporation provides cord blood collection, laboratory testing, hematopoietic stem cell processing, and stem cell storage services. For more information about China Cord Blood Corporation, please visit: http://www.chinacordbloodcorp.com.

Forward-looking Statements

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Certain of the statements made in the press release constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the use of forward-looking terminology such as "believe," "expect," "may," "will," "should," "project," "plan," "seek," "intend," or "anticipate" or the negative thereof or comparable terminology. Such statements typically involve risks and uncertainties and may include financial projections or information regarding the progress of new product development. Actual results could differ materially from the expectations reflected in such forward-looking statements as a result of a variety of factors, including the risks associated with the effect of changing economic conditions in the People's Republic of China, and other risk factors detailed in reports filed with the Securities and Exchange Commission from time to time.


    For more information, please contact:
    China Cord Blood Corporation
    Ms. Joeling Law
    Phone: +852-3605-8180
    Email: ir@chinacordbloodcorp.com

    ICR, Inc.
    In the United States:
    Ashley M. Ammon or Christine Duan
    Phone: +1-646-277-1227
    In China:
    Wei-Jung Yang
    Phone: +86-10-6599-7968

SOURCE China Cord Blood Corporation



RELATED LINKS

http://www.chinacordbloodcorp.com