Golden Meditech Officially Applies for Listing of Taiwan Depositary Receipt on the Taiwan Stock Exchange

Oct 06, 2010, 07:44 ET from Golden Meditech Holdings Limited

HONG KONG, Oct. 6 /PRNewswire-Asia-FirstCall/ -- Golden Meditech Holdings Limited ("Golden Meditech" or the "Group," 801.HK), mainland China's leading integrated healthcare enterprise, is pleased to announce today that the Company has made an application to the Taiwan Stock Exchange and the Taiwan Central Bank for the offering and listing of up to 90 million units of Taiwan Depositary Receipts ("TDR") equivalent to no more than 180 million shares of the Group).

Subject to relevant regulatory approvals, the Company's TDR will be offered by way of offer for subscription to the public and selected institutional and individual investors in Taiwan. The offering and the listing will represent no more than 120 million new shares and no more than 60 million existing shares of the Company. The aggregate 180 million Shares involved represent approximately 10.55% of the issued share capital and approximately 9.86% of the enlarged issued share capital of the Company following the issuance of the new shares.

Net proceeds from the TDR issue will be used for the repayment of bank loans and for the Group to establish a representative office in Taiwan. As details in respect of the TDR Issue have yet to be finalized, the Group will make further announcement as soon as should such information becomes available.

Mr. Kam Yuen, Chairman of the Group commented, "We believe the TDR issue is not only an attractive alternative for international investors, but will enable Taiwan investors, particularly those who are interested to invest in the healthcare industries in mainland China to participate and reap in the rewards from the high growth sector via investing and dealing in the Shares of the Company. This will further increase the liquidity of the Company's Shares and broaden and diversify the shareholder base of the Company.

Mr. Kam reiterated that, "The implementation of Economic Cooperation Framework Agreement will bring forth the prospects for greater symbiosis between industry counterparts in the Mainland and Taiwan. We are also confident that the TDR issue will increase public awareness of the Group and will promote the Group's corporate image in Taiwan. This will enhance our competitiveness and presence in the mainland China market and benefit our business development initiatives in Taiwan in the future, which renders the TDR Issue in the best interests of the Group and its Shareholders as a whole."

About Golden Meditech Holdings Limited

Golden Meditech Holdings Limited is China's leading integrated-healthcare device and service operator, and the first medical device enterprise that was publicly listed outside of the PRC on the Stock Exchange of Hong Kong Limited (HKEx). Thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities Golden Meditech has, over the years, established itself as a first-mover in China's healthcare industry with dominant positions in medical devices and healthcare services markets. Going forward, the Group will continue to pursue a leading position in China's healthcare industry both through organic growth and strategic expansion.

    For enquiries, please contact:

     Investor Relations Department
     Golden Meditech Holdings Limited
     Address: 48/F, Bank of China Tower, 1 Garden Road, Central, Hong Kong
     Tel:     +852-3605-8180
     Fax:     +852-3605-8181

SOURCE Golden Meditech Holdings Limited