GEM?
3%?
US$30m funding facility, can take up more (%) of gmv shares ?
~For thispurpose, the Exchangewouldgenerallyconsider the following as examples,forillustrative purposesonly,oftypesofSophisticated Investor:
(1)adedicatedhealthcareorBiotechfundoranestablished fundwithadivision/department thatspecialises or focuses on investments in the biopharmaceutical sector;
(2)a major pharmaceutical/healthcare company;
(3)a venture capital fund of a major pharmaceutical/healthcare company;
and(4)an investor,investment fund or financial institution with minimum assets under management of HK$1 billion.
(ii)The Exchange will assess whether a third party investment is a meaningful investment in the circumstances on a case by case basis by reference to the nature of the investment, the amount invested, the size of the stake taken up and the timing of the investment.
As an indicative benchmark the following investment amount will generally be considered as a “meaningful investment”:
-(1)for an applicant with a market capitalisation between HK$1.5 billion to HK$3 billion, an investment of not less than 5% of the issued share capital of the applicant at the time of listing;
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(2)for an applicant with a market capitalisation between HK$3 billion to HK$8 billion, an investment of not less than 3% of the issued share capital of the applicant at the time of listing; and
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(3)for an applicant with a market capitalisation of more than HK$8 billion, an investment of not less than 1% of the issued share capital of the applicant at the time of listing
https://en-rules.hkex.com.hk/sites/default/files/net_file_store/new_rulebooks/g/l/gl9218.pdf
~
