SPARK Advisory Partners Limited (“SPARK”) is pleased to announce it has acted as Sponsor to Cathay International Holdings Limited in respect of its proposed USD130m equity fundraising, comprising an Open Offer to existing shareholders and a Subscription to new investors, Class 1 Disposal of shares in Zhejiang Starry Pharmaceuticals and transfer of listing category. The proceeds of the Fundraising and the Disposal will be used to reduce borrowings to invest in Cathay’s pharmaceutical, healthcare, cosmeceutical and hotel businesses.
Cathay’s shares are admitted to premium segment the Official List of the FCA and traded on the Main Market of the London Stock Exchange. Cathay is headquartered in Hong Kong, with the majority of its operations in mainland China.