China Medical System shares rise 11% with its secondary listing on SGX

Straits Times

6 days ago

Find out what's new on ST website and app.
At the 9am open, its shares traded at $2.05. They closed 11.2 per cent higher at $2.28 on July 15, with around 315,000 shares changing hands.
SINGAPORE – Shares of China Medical System (CMS) rose 11 per cent on the first day of its secondary listing on the Singapore Exchange (SGX) on July 15.
At the 9am open, its shares traded at $2.05. They closed 11.2 per cent higher at $2.28 on July 15, with around 315,000 shares changing hands.
This marks the 40th listing in the healthcare sector on SGX, with CMS' market capitalisation reaching HK$28.64 billion (S$4.67 billion) as at July 15.
In an earlier statement on June 24, CMS said the secondary listing will not involve the issuance of new shares, and the shares will continue to be primarily listed and traded on the Hong Kong Stock Exchange thereafter.
CMS is a specialty pharmaceutical company with a focus on sales and marketing in China. The company has capabilities across the full lifecycle of drug development, from identifying clinical needs to research and development (R&D) regulatory approval, and commercialisation.
It has built a differentiated portfolio across key therapeutic areas including cardio-cerebrovascular, central nervous system, gastroenterology, dermatology and ophthalmology.
The company has been listed in Hong Kong since 2010. Its regional headquarters for its South-east Asia and Middle East business is Singapore.
Top stories
Swipe. Select. Stay informed.
Business MAS records net profit of $19.7 billion, fuelled by investment gains
Business Singapore financial sector growth doubles in 2024, assets managed cross $6 trillion in a first: MAS
Singapore $3b money laundering case: MinLaw acts against 4 law firms and 1 lawyer over seized properties
Singapore Man charged with attempted murder of woman at Kallang Wave Mall
Singapore Ex-cleaner jailed over safety lapses linked to guard's death near 1-Altitude rooftop bar
Singapore Real estate firm PropNex donates $6 million to Community Chest for 25th anniversary
Singapore Sengkang-Punggol LRT gets 15.8 per cent capacity boost with new trains
Singapore 'Nobody deserves to be alone': Why Mummy and Acha have fostered over 20 children in the past 22 years
CMS expects growth momentum to accelerate after replenishing its pipeline of innovative drugs that stood at 40 products as at Dec 31, 2024. The company has identified four key platforms to scale its pharmaceutical ecosystem across Asia-Pacific.
One is CMS R&D, which is involved in drug discovery and development targeting global markets, while PharmaGend is a development and manufacturing platform for regional manufacturing and supply.
The pharmaceutical group also has Rxilient Health, a Singapore-headquartered entity focused on registration and commercialisation in South-east Asia and a Singapore venture arm, which makes strategic investments to support regional pharma innovation.
'The listing of CMS, a leading player in the healthcare sector, reflects the rising demand for healthcare innovation and access across Asia,' said SGX head of global sales and origination Pol de Win. 'As the company looks to expand in South-east Asia, its SGX listing offers a strategic springboard, connecting it to international investors and reinforcing Singapore's role as a hub for capital and growth.'
CMS founder and chief executive Lam Kong said: 'Our listing in Singapore further enhances our presence in international capital markets. By leveraging Singapore's strengths as a hub for global innovation and multinational headquarters, we are advancing our internationalisation strategy, and accelerating the construction of the full pharmaceutical value chain of R&D, manufacturing and commercialisation.'