CSPC Innovation seeks Hong Kong H share listing

CSPC Innovation's board approved a proposed H share listing on the Main Board of the Stock Exchange on September 30, 2025. This listing is expected to involve an initial public offering of new H shares, representing not more than 10% of CSPC Innovation's enlarged issued share capital, assuming the over-allotment option is not exercised. CSPC Innovation will remain an indirect subsidiary of CSPC Pharmaceutical Group post-listing.

The listing will result in a deemed disposal by CSPC Pharmaceutical Group, reducing its equity interest in CSPC Innovation by approximately 8.46% if the 10% issuance and full over-allotment option exercise occur. This constitutes a discloseable transaction under listing rules 14.07 and 14.29, requiring notification and announcement but exempt from circular and shareholders' approval.

Proceeds from the listing are slated for research and development, drug sales, working capital replenishment, and general corporate purposes. The move aims to enhance access to international capital markets and boost financing flexibility for CSPC Innovation's finished drug business.