China Medical System shares surge 11% with its secondary listing on SGX
This is the 40th listing in the healthcare sector on SGX. CMS’ market capitalisation hits HK$28.64 billion (S$4.67 billion) on Tuesday
[SINGAPORE] Shares of China Medical System (CMS) jumped 6 per cent at the debut of its secondary listing on the Singapore Exchange (SGX) on Tuesday (Jul 15).
At the 9 am open, its shares traded at S$2.05, then went up to S$2.08 by 9.03 am. By 9.05 am, the counter had risen by over 2.4 per cent to S$2.10, and hit S$2.12, up 3.4 per cent as at 9.07 am. As at 9.12 am, its share price was S$2.18, 6.3 per cent higher than its price at market open.
The company’s shares were last at S$2.28, up 11.2 per cent with around 150,000 shares changing hands.
This was the 40th listing in the healthcare sector on SGX. CMS’ market capitalisation was at HK$31.9 billion (S$5.2 billion) at the end of its first trading day – an increase from the HK$28.64 billion cited in the group’s introductory document dated Jun 27.
In an earlier statement on Jun 24, CMS said that the secondary listing would not involve the issuance of new shares, and that the shares would continue to be primarily listed and traded on the Hong Kong Stock Exchange thereafter.
CMS is a pharmaceutical company with a focus on sales and marketing in China. It has capabilities across the full lifecycle of drug development, such as identifying clinical needs, research and development (R&D), regulatory approval and commercialisation.
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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.
CMS expects growth momentum to accelerate after replenishing its pipeline of innovative drugs, which stood at 40 products as at Dec 31, 2024. The group has identified four key platforms to scale its pharmaceutical ecosystem across Asia-Pacific.
One is CMS R&D, which oversees drug discovery and development, targeting global markets. PharmaGend, on the other hand, 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. It makes 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 Pol de Win, head of global sales and origination of SGX. “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.”
Lam Kong, founder and chief executive of CMS, said: “Our listing in Singapore 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.”
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