Joincare is an innovative and scientific research-oriented comprehensive pharmaceutical group with technological innovation as its strategic basis. Its strategic goal is to build a high-barrier complex preparation technology platform and, currently, it has deployed four high-barrier complex preparation R&D platforms.
Joincare Pharmaceutical Group (Chinese: 健康元, 600380: SH), said on June 16, 2022, that it plans to list on the Swiss stock exchange in a bid to broaden financing channels and ramp up its global expansion. Shanghai-listed Joincare said on Thursday that listing in Switzerland would help it 'expand international financing channels, lift global image and branding, and meet the company's need for global business development.'
Late last year, China broadened a stock connect scheme linking Shanghai and London, to include capital markets in Germany and Switzerland. Chinese companies including Sany Heavy Industry (Chinese: 三一重工, 600031: SH), Gotion High-Tech (Chinese: 国轩高科, 002074:SZ) and Lepu Medical Technology (Chinese: 乐普医疗,300003: SZ) have already disclosed plans to join the scheme.
Joincare's plan to issue Global Depository Receipts (GDRs) on the SIX Swiss Exchange, disclosed in an exchange filing, makes it the latest Chinese company to tap a cross-border investment channel linking China and European markets. The company said the fundraising size is still under discussion, while the proposal requires approval from shareholders as well as Chinese and Swiss regulators. Joincare has picked CITIC Securities to lead the offering, which could raise about USD 300 to 400 million.