Hutchison China MediTech (Chi-Med) Announces Closing Of U.S. Public Offering Of Adss Raising Approximately US$101 Million On The Nasdaq Stock Market

LONDON--(BUSINESS WIRE)--Hutchison China MediTech Limited (“Chi-Med”) (AIM/Nasdaq: HCM) announces the closing of its U.S. public offering of American depositary shares (“ADSs”) (the “Offering”). The Offering raised gross proceeds of US$101,250,000, through the sale of 7,500,000 ADSs, each representing one-half of one ordinary share of Chi-Med, at a price of US$13.50 per ADS. All of the ADSs in the Offering were sold by Chi-Med.

Chi-Med has also granted the underwriters a 30-day option to purchase up to an additional 1,125,000 ADSs at the Offering price.

The ADSs sold in the Offering began trading on the Nasdaq Global Select Market on March 17, 2016. Chi-Med’s ordinary shares continue to be traded on the AIM market of the London Stock Exchange.

BofA Merrill Lynch and Deutsche Bank Securities (in alphabetical order) acted as joint global coordinators and joint bookrunners for the Offering. Stifel, Canaccord Genuity, Panmure Gordon & Co. and CITIC CLSA acted as co-managers for the Offering.

In connection with the Offering, a registration statement on Form F-1 (the “Form F-1 Registration Statement”) has been filed with, and declared effective by, the U.S. Securities and Exchange Commission (“SEC”). The Offering was made only by means of a prospectus. Copies of the final prospectus related to the Offering may be accessed through the SEC’s website at www.sec.gov or obtained from (in alphabetical order): (i) BofA Merrill Lynch, Attn: Prospectus Department, 222 Broadway, New York, NY 10038, or by email at dg.prospectus_requests@baml.com, or (ii) Deutsche Bank Securities Inc., Attn: Prospectus Group, 60 Wall Street, New York, NY 10005, or by email at prospectus.cpdg@db.com.

This announcement does not constitute an offer to sell or the solicitation of an offer to buy ADSs or any other securities, nor shall there be any sale of ADSs in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Application has been made for the 3,750,000 new ordinary shares issued by Chi-Med pursuant to the Offering, represented by the 7,500,000 ADSs, to be admitted to trading on AIM and it is expected that admission will become effective at 8.00am (GMT) on March 23, 2016. The 3,750,000 new ordinary shares issued by Chi-Med pursuant to the Offering have been credited as fully paid and rank pari passu in all respects with the existing ordinary shares of Chi-Med. As of the closing of the Offering, the issued share capital of Chi-Med is 60,283,118 and this figure may be used by shareholders as a denominator for the calculations by which they determine if they are required to notify their interest in, or change to their interest in, Chi-Med under the Disclosure and Transparency Rules, as incorporated into Chi-Med’s articles of association.

About Chi-Med

Chi-Med is a China-based, globally-focused healthcare group which researches, develops, manufactures and sells pharmaceuticals and health-related consumer products. Its Innovation Platform focuses on discovering and developing innovative therapeutics in oncology and autoimmune diseases for the global market. Its Commercial Platform manufactures, markets, and distributes prescription drugs and consumer health products in China.

Chi-Med is majority owned by the multinational conglomerate CK Hutchison Holdings Limited (SEHK: 0001). For more information, please visit: www.chi-med.com.

Forward-looking statements

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, that involve risks and uncertainties, including statements regarding the Offering. Actual results may differ materially from those projected or implied. More information about potential factors that could affect Chi-Med’s business and financial results is contained in the Form F-1 Registration Statement filed with the SEC. Any forward-looking statement made by Chi-Med herein, or elsewhere, speaks only as of the date on which such statement is made. Chi-Med does not intend, and undertakes no duty, to update any forward-looking statements after the date hereof to reflect future events or circumstances.