BEIJING, Nov. 5, 2015 /PRNewswire/ -- Today, Bloomage BioTechnology Corporation Limited ("Bloomage BioTech" or "the Company"; together with its subsidiaries, collectively referred to as "the Group", stock code: 00963) and GIC, Singapore's sovereign fund, jointly announced an investment agreement, pursuant to which GIC will become a key shareholder of the Company by subscribing for its shares to support the Company in building up the aesthetic medical ecosystem in China through organic growth and acquisitions.
Pursuant to the agreement, GIC will make a total investment of HK$659 million into the Company, including subscription for HK$465 million convertible bonds and HK$194 million new shares, of which:
This investment demonstrates the recognition of the Company's value by the world's leading sovereign fund, and great confidence in the Company's prospects and management team. The Group will continue its internal organic growth and external acquisitive growth strategy (organic drivers from R&D and marketing innovation, and external drivers from merger and acquisition of world-leading aesthetic medical products and resources), to inject vitality into the aesthetic medical ecosystem in China and to drive the Group's domestic and global expansion in the aesthetic medical sector.
Mr. Jin Xuekun, the CEO of Bloomage BioTech, said, "The investment shows GIC's recognition on our track record and future potential as well as our strategy of building up aesthetic medical ecosystem in China, which not only provides the Company with additional capital, but also further enhances the Company's global operation, improving the cash flow and keeping the leverage ratio at an appropriate level. We believe that GIC's global resources, dedicated local team and extensive operational experience will drive the Company faster on its way to becoming the aesthetic medical leading player in China. With a solid financial position, Bloomage BioTech will be able to respond to market challenges more efficiently, achieve sizable and sustainable growth more effectively and create greater value for its shareholders."
Ms. Sharon Sun Xiaoning, Chief Representative of Greater China and Head of Direct Investments Group (China), said, "Bloomage BioTech has a proven track record in producing innovative products and solutions in the field of aesthetic products, and we look forward to working with management to help it achieve its full potential. As a disciplined, long-term value investor, GIC believes in the strong growth potential of China's aesthetic medical sector."
About Bloomage BioTech Corporation Limited
Bloomage BioTech Corporation Limited (stock code: 963.HK) is China's leading provider of medical cosmetic products and services as well as the world's largest manufacturer of raw materials of sodium hyaluronate (also known as hyaluronic acid, Sub-Q; referred to as "HA"). With HA as the core, it is committed to developing medical cosmetic products and solutions in an all-round basis and building China's ecological chain for medical cosmetics. It was listed on the Hong Kong Stock Exchange in 2008.
About GIC
GIC is a leading global investment firm with well over US$100 billion in assets under management. Established in 1981 to secure the financial future of Singapore, the firm manages Singapore's foreign reserves. A disciplined long-term value investor, GIC is uniquely positioned for investments across a wide range of asset classes, including real estate, private equity, equities and fixed income. GIC has investments in over 40 countries and has been investing in emerging markets for more than two decades. Headquartered in Singapore, GIC employs over 1,200 people across 10 offices in key financial cities worldwide. For more information on GIC, please visit www.gic.com.sg.
Investor inquiries:
GIC Pte Ltd
Mah Lay Choon
Telephone: (65) 6889 6841
Email: mahlaychoon@gic.com.sg
Jennifer Lewis
Telephone: (65) 6889 8383
Email: jenniferlewis@gic.com.sg
Bloomage BioTech Corporation Limited
David Li
Telephone: (86 10) 85670099-1506
Email: lizhen@biobloomage.com
Ryan Yau
Telephone: (86 10) 85670099
Email: ryan.yau@biobloomage.com
Media inquiries:
Wonderful Sky Financial Group Holdings Limited
Liu Xinyan
Telephone: (852) 3970 2181
Email: tiffanyliu@wsfg.hk
Li Yanni
Telephone: (852) 3970 2109
Email: yannili@wsfg.hk
Hu Shuang
Telephone: (852) 3970 2262
Email: susanhu@wsfg.hk
Wang Dan
Telephone: (852) 3641 1315
Email: annawang@wsfg.hk