San Nuo pharmaceutical-b (02257) announced that the over allotment right described in the prospectus had been partially exercised by the joint representatives (for themselves and on behalf of the International Underwriters) on January 21, 2022, involving a total of about 973500 shares, equivalent to about 12.91% of the total number of offer shares initially available for subscription under the global offering before any over allotment right was exercised. The over allotted shares will be allotted and issued by the company at the price of HK $65.90 per share. The over allotment of shares will be used to facilitate the delivery of part of the relevant shares to Kunming jiashiqing, the cornerstone investor who has agreed to delay the delivery of 1131000 shares subscribed by it in accordance with the relevant cornerstone investment agreement. The company will receive additional net proceeds of approximately HK $64.15 million from the issuance and allotment of additional shares due to the partial exercise of the over allotment right.
In addition, the stable price period for the global offering has ended on January 22, 2022 ( Saturday Co.Ltd(002291) ) (i.e. the 30th day after the deadline for submission of Hong Kong public offering applications). The price stabilizing actions taken by China International Capital Hong Kong Securities Limited (the price stabilizing operator), its affiliates or any person acting on its behalf during the price stabilization period are set out below:
(1) a total of 1131000 shares were over allocated in the international offering, equivalent to 15% of the total number of offer shares initially available for subscription under the global offering before the exercise of any over allotment right;
(2) during the period of price stabilization, 31705 shares in total were purchased successively in the market at the price range of HK $64.65 to HK $65.90 per share, equivalent to about 4.20% of the total number of offer shares initially available for subscription under the global offering before the exercise of any over allotment right. The last purchase made in the market by the price stabilizing operator, its affiliates or any person acting on its behalf during the price stabilizing period is December 30, 2021, at the price of HK $65.90 per share;
(3) during the stable price period, a total of 159500 shares were successively sold in the market at HK $72.60 to HK $77.65 per share (equivalent to about 2.12% of the total number of offer shares initially available for subscription under the global offering (before exercising the over allotment right). The last sale made in the market by the price stabilizing operator, its affiliates or any person acting on its behalf during the price stabilizing period is January 21, 2022, at the price of HK $75.00 per share; and
(4) on January 21, 2022, the joint representatives (for themselves and on behalf of the International Underwriters) exercised the over allotment rights at the price of HK $65.90 per share for a total of 973450 shares (equivalent to about 12.91% of the total number of offer shares initially available for subscription under the global offering before the exercise of any over allotment rights), To facilitate the delivery of part of the relevant shares to Kunming jiashiqing (cornerstone investor who has agreed to delay the delivery of 1131000 shares subscribed in accordance with the relevant cornerstone investment agreement).
Part of the over allotment rights not exercised by the joint representatives (for themselves and on behalf of the International Underwriters) expired on January 22, 2022.
