China Medical System shares rise 11% with its secondary listing on SGX
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At the 9am open, CMS 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.
PHOTO: ST FILE
Chloe Lim
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.
CMS is a specialty pharmaceutical company with a focus on sales and marketing in China.
The company has capabilities across the full life cycle 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, the 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.
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 the 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.” THE BUSINESS TIMES
