Concord Medical Announces Listing of Its Subsidiary on The Stock Exchange of Hong Kong Limited

Group 1 - Concord Medical Services Holdings Limited announced the listing of a minority stake of 39,420,200 H shares in its subsidiary, Concord Healthcare, on the HKSE at an initial public offer price of HK$14.28 per H share, starting January 9, 2024 [1][2] - The gross proceeds from the initial public offering are HK$562.9 million (approximately US$72.2 million), with plans to allocate approximately 59.4% for repaying bank borrowings, 30.6% for constructing the Shanghai Concord Cancer Center, and 10.0% for working capital and other corporate purposes [2] - Concord Medical focuses on providing a full cycle of premium oncology services, including cancer diagnosis, treatment, education, and prevention, aiming to improve the quality and accessibility of cancer care across China [3][4] Group 2 - Concord Healthcare serves cancer patients through both self-owned and third-party medical institutions, offering a full spectrum of oncology healthcare services and leveraging precision radiation therapy [4] - The company provides integrated oncology-related services, including the sale and installation of medical equipment, software, management, technical support, and operating leases to a network of enterprise customers, primarily hospitals [4]