Venus Medtech (Hangzhou) Inc. (“Venus Medtech” or “the Company”，2500.HK) is successfully listed on Hong Kong Stock Exchange on Dec 10th, 2019. The pre-green shoe offering size is HK$2.59 billion and the post-green shoe offering size is HK$2.98 billion (the Offering). CICC acted as Joint Sponsor, Joint Global Coordinator, Joint Bookrunner, and Joint Lead Manager.

Venus Medtech is the first H-Share listing medical device company under Listing Rule 18A. The HKPO and the Offer Shares initially offered under the International Offering have been significantly over-subscribed. The demand for HKPO is more than 100 times of the initially available offer shares, which is the second highest among all Hong Kong deals in 2019.

Venus Medtech is the leading transcatheter heart valve medical device player in China in terms of implantation volume in 2018. According to Frost & Sullivan, the company had a 79.3% market share in China by implantation volume of TAVR products in 2018. The company’s self-developed product, VenusA-Valve, is the first TAVR product approved by the NMPA and commercialized in China.

As the pioneer in the transcatheter heart valve industry in China, the company’s first mover advantages, together with it’s comprehensive product pipeline covering all four heart valves, robust intellectual property portfolio with 185 issued patents and 204 patent applications as of the Latest Practicable Date, and visionary management team, will serve as high entry barriers and differentiate us from the company’s peers.  

CICC fully took the responsibility for obtaining regulatory approvals, with the extensive knowledge of the industry and the Company’s business model, CICC also took the responsibility for preparing investment highlights roadshow teasers and received great recognition from investors. 

In terms of introducing cornerstone investors, CICC actively communicated with several high-profile institutional funds and successfully introduced Hillhouse and China Alpha as the cornerstone investors. Despite of volatile market condition, CICC grasped the market window and helped to introduce high quality investors and build up a good bookbuilding momentum on the first day of bookbuilding, laying a solid foundation for pricing at high end and successful listing.

As a leading investment bank with “China Roots, International Reach”, CICC will continue to utilize its capital market expertise as well as its seamless cooperation of onshore and offshore businesses to provide continuous support to our customers in terms of introduction of global investors, reaching international capital market, and promoting global business development.