China Economic Net, Beijing, Feb. 6 -- According to the official decision of the Shanghai Stock Exchange, the Shanghai Stock Exchange has decided to terminate the initial public offering of PharmaLegacy Biomedical Technology (Shanghai) Co., Ltd. (hereinafter referred to as "PharmaLegacy Biotech") and review its listing on the Science and Technology Innovation Board.
On March 27, 2023, the Shanghai Stock Exchange accepted the application documents for the initial public offering** and listing on the STAR Market of PharmaLegacy in accordance with the law, and reviewed it in accordance with the regulations.
A few days ago, PharmaLegacy and the sponsor Haitong ** Co., Ltd. respectively submitted to the Shanghai Stock Exchange the "Application for Withdrawal of the Application Documents for the Initial Public Offering** and Listing on the Science and Technology Innovation Board" and the "Application for Haitong ** Co., Ltd. on the Cancellation of the Initial Public Offering of PharmaLegacy Biomedical Technology (Shanghai) Co., Ltd. *** and the Sponsor for Listing on the Science and Technology Innovation Board", respectively, to apply for the withdrawal of the application documents. In accordance with the relevant provisions of Article 63 of the Rules for the Review of the Issuance and Listing of the Shanghai **Stock Exchange**, the Shanghai Stock Exchange has decided to terminate the review of the initial public offering** and listing on the STAR Market of PharmaLeg.
Relying on a scientific research evaluation system, a complete core technology platform and advanced technological innovation capabilities, PharmaLegacy is committed to providing preclinical research CRO services that meet international standards for global innovative biopharmaceutical companies and medical device companies.
As of the date of this Prospectus, the controlling shareholder of PharmaLegacy Biologics is PL HK and the actual controller is Jifeng Duan. In the past two years, there has been no change in the actual controller of PharmaLeg. PL HK directly holds 8,88864.95 million shares, accounting for 2372%, the controlling shareholder of the company. Jifeng Duan directly holds PL Investments9014% of the shares, which is the actual controller of PL Investments, and indirectly controls 100% of the shares of PL HK through PL Investments, and then indirectly controls PharmaLegacy 2372% shares. Jifeng Duan has a substantial impact on the company's operation and management. All shareholders of PharmaLegacy Biologics, except PL HK, have issued a Letter of Undertaking not to seek control of the Company. Jifeng Duan, born in October 1961, is an American citizen with permanent residency in China.
PharmaLegacy Biologics' proposed public offering** does not exceed 12,493620,000 shares, not exceeding 25% of the total share capital after issuance. The issuance is all new shares, and the original shareholders do not offer shares to the public. PharmaLegacy originally planned to raise 60,114070,000 yuan, which will be used for Jinqiao preclinical R&D service industry base project, innovative R&D platform project, Zhangjiang preclinical service industry base technology transformation and upgrading project, and replenishment of working capital.
The sponsor of this issuance is Haitong ** shares*** referred to as "Haitong **", and the sponsor representatives are Chen Yichao and Zhang Zihui.
*: China Economic Net.