Core Viewpoint - The company Baoyi Pharmaceutical-B (02659) has seen its stock price surge over 200% within 14 trading days since its listing on the Hong Kong Stock Exchange on December 10. The company announced it has submitted materials to the China Securities Regulatory Commission for the implementation of full circulation of H-shares, converting a total of 63.1163 million unlisted shares into H-shares, which accounts for approximately 19.36% of the total issued shares as of the announcement date [1]. Group 1 - The full circulation mechanism allows unlisted domestic shares to be converted into tradable shares, enhancing the overall liquidity of the Hong Kong stock market [1]. - Increased liquidity is expected to attract more institutional investors, such as funds and pension plans, as large transactions can be executed more easily with reduced price impact [1]. - The ability for all shares to be freely traded will enable the stock price to better reflect the company's true value, minimizing valuation discrepancies caused by illiquid shares [1]. Group 2 - The full circulation is anticipated to significantly enhance the company's market capitalization, potentially attracting attention from major international indices like FTSE Russell and MSCI, which focus on market capitalization [1]. - Governance and transparency of the company are expected to improve, as the wealth of original domestic shareholders will be directly linked to the company's stock price, incentivizing a focus on long-term value and governance structure [2].
宝济药业-B拟实施H股全流通 提升市场价值发现功能