Chi-Med taps London's AIM market with the intent to develop TCMs for global development

Hutchison China MediTech says that it intends to seek admission to the Alternative Investment Market of the London, UK, Stock Exchange, with the placing of new ordinary shares to raise gross proceeds of approximately L40.0 million ($69.5 million). Chi-Med, which was established in 2000, is expected to be valued at about L130.0-L140.0 million.

Chi-Med is the holding company for a pharmaceutical and health care group based primarily in China and focused on researching, developing, manufacturing and selling pharmaceuticals, health supplements and other consumer health and personal care products derived from traditional Chinese medicine and botanical ingredients.

Chi-Med's overall aim is to draw on the untapped wealth of knowledge and history of usage in the TCM industry to develop pharmaceutical and consumer products for the global market, aiming to sell its products also in the USA and Europe. In support of this, it has developed three complementary businesses.