Kangji Medical Holdings proposes privatization at HK$9.25 per share

The Scheme Document, despatched on Monday, October 13, 2025, details the proposal for the privatization of Kangji Medical Holdings Limited by an Offeror at a Cancellation Price of HK$9.25 per Scheme Share. This price represents premiums ranging from 9.9% over the last trading date's closing price to 47.3% over the 360-trading day average closing price (up to the undisturbed date), and a 293.6% premium over the NAV per share as at June 30, 2025. The Offeror has stated the Cancellation Price will not be increased.

The proposal involves the cancellation of all Scheme Shares and withdrawal of the company’s listing from the Stock Exchange. A Court Meeting and EGM are scheduled for Monday, November 10, 2025, for shareholders to vote on the Scheme and a Special Deal. The Offeror will finance the cash consideration of approximately HK$5,818,243,026 through equity commitments from TPG Asia VII Finance, L.P. (HK$387.5m), NewQuest Asia Fund V, L.P. (HK$310.0m), Al-Rayyan Holding (HK$1,385.0m), and external debt financing.

The Special Deal involves the founder entities rolling over shares into TopCo and receiving a Convertible Note, with terms considered fair and reasonable by the independent financial adviser. Shareholders and potential investors are cautioned that implementation is subject to conditions being fulfilled or waived.