China Medical System shares rise 11% on first day of SGX listing

Shares of China Medical System (CMS) rose 11 per cent on the first day of its secondary listing on the Singapore Exchange (SGX) on July 15.

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At the 9am open, its shares traded at $2.05.

They closed 11.2 per cent higher at $2.28 on July 15, with around 315,000 shares changing hands.

This marks the 40th listing in the healthcare sector on SGX, with CMS' market capitalisation reaching HK$28.64 billion (S$4.67 billion) as at July 15.

In an earlier statement on June 24, CMS said the secondary listing will not involve the issuance of new shares, and the shares will continue to be primarily listed and traded on the Hong Kong stock exchange.

CMS is a specialty pharmaceutical company with a focus on sales and marketing in China.

The company has capabilities across the full life cycle of drug development, from identifying clinical needs to research and development (R&D) regulatory approval and commercialisation.