Sansheng Pharmaceutical proposes to spin off Mandy International and independently list it on the main board of the Stock Exchange

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Sansheng Pharmaceutical proposes to spin off Mandy International and independently list it on the main board of the Stock Exchange

Sansheng Pharmaceutical(01530) announced that the company proposes to spin off its subsidiary Mandi Shares and independently list it on the main board of the Stock Exchange.The proposed spin-off, if carried out, is expected to pass (i) a distribution in specie of all shares of Mandy held by shareholders based on their respective shareholding in the company on a record date determined by the board of directors to determine shareholders 'rights and (ii) a global offering of Mandy's new shares, including the Hong Kong Public Offering and the International Offering.
Regarding the proposed spin-off, on November 20, 2025, Mandy submitted an application to the Stock Exchange to approve the listing and trading of Mandy's shares on the Main Board of the Stock Exchange by way of (i) distribution in kind of all Mandy's shares held by the company and (ii) global offering of Mandy's new shares. The compiled application version of Mandy's listing documents is expected to be posted on the Stock Exchange website for viewing and downloading.
As at the date of this announcement, Mandy is beneficially owned by the company, Intai Management Limited, Mandi Group Limited, GL Wecan Investment IV L.P. andAlibaba Health (Hong Kong) Technology Co., Ltd. is beneficially owned by approximately 87.16%, 3.38%, 2.80%, 4.00% and 2.65%. The spin-off Group is China's leading professional consumer medicine company committed to developing and providing comprehensive and long-term solutions in the fields of skin health and weight management. Mandy is primarily focused on and has established a leadership position in the field of hair health within the broader skin health industry. Mandi launched the first 5% minoxidil tincture in China under the Mandi ® brand in 2001, and will further launch the second generation of minoxidil products in 2024, namely Mandi ®5% minoxidil foam.

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