Shanghai HeartCare Medical Technology Corporation Limited (HEARTCARE-B) released a detailed circular outlining its proposed initial public offering of A-shares and related corporate actions.
• Offer Size & Structure – The company intends to issue no more than 7.03 million A-shares (up to 15 % over-allotment option included) on the Shanghai Stock Exchange’s Sci-Tech Board (STAR Market). – The shares will carry a par value of RMB1.00 and be newly issued; no existing shareholders will sell. – Post-offering, A-shares will represent roughly 15.3 % of enlarged share capital (excluding treasury shares).
• Pricing & Timetable – Final price will be determined via offline bookbuilding and online subscription. – The mandate is valid for 12 months from shareholder approval, with listing targeted within that window.
• Use of Proceeds ‑ Indicative RMB508 million 1. Neuro-interventional device manufacturing: RMB155.00 million 2. Vascular intervention R&D and production: RMB132.00 million 3. Product R&D and registration: RMB171.00 million 4. Working-capital supplementation: RMB50.00 million
• Governance & Policy Updates – Board seeks shareholder authorisation to handle all matters related to the STAR Market listing. – Draft amendments to the Articles of Association and multiple internal policies (board rules, related-party transactions, guarantee, investment, proceeds management, online voting) were tabled. – A three-year dividend plan, an immediate-return dilution analysis with recovery measures, and a three-year post-listing share-price stabilisation plan were disclosed. – Pre-IPO undistributed profit of RMB46.80 million, if any remains, will be shared pro-rata by all shareholders after the A-share issuance.
• Incentive Scheme Revision – The existing 2025 H-share incentive pool will rise from 1.00 million to an upper limit representing about 10 % of total issued share capital, increasing available H-share awards to up to 3.89 million.
• Guarantee & Related-Party Oversight – New caps and procedures for external guarantees were proposed. – Independent shareholders will vote separately on related-party transactions.
• Shareholding Impact – Public float (H-shares plus prospective A-shares) will remain above 25 % post-issuance, ensuring compliance with both Hong Kong and Shanghai listing rules.
The proposals will be put to vote at the extraordinary general meeting scheduled for 3 September 2026 in Shanghai. If the A-share plan is not approved, ancillary resolutions will lapse automatically.