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SHENZHEN, China, July 14, 2017 -- BGI Genomics, an independent division of BGI Group, today announced pricing of its initial public offering of 40.1 million shares at a list price of RMB 13.64 per share.
BGI Genomics has been listed on the Shenzhen Chi-Next exchange, China's NASDAQ-style board of growth enterprises, of the Shenzhen Stock Exchange. The shares began trading on July 14 under the code 300676.
The IPO was approved by the China Securities Regulatory Commission (CSRC) in May. BGI Genomics’ IPO prospectus was first announced on the CSRC website in December 2015 and was updated in March 2017.
For the listing ceremony, BGI Genomics invited a group of patients and caregivers to ring the opening bell, signifying the successful launch of BGI Genomics in the Chinese capital market. The event marks a major step for BGI Genomics towards realizing its vision of “Trans-omics for a better life.”
“In the genomics field, we aim to dominate the market, creating a bright future for all by bringing both social and economic benefits,” BGI Genomics’ President Wang Jian said in his opening statement at the IPO ceremony. “Benefitting from our innovations in scientific research, the industry will become more active; by serving people's lives as the starting point, the industry will also become more competitive and scalable.” Wang, who co-founded BGI Group in 1999, vowed not to sell any of his holdings in the next five years, adding he would remain invested over the long term to drive the goal of reducing gene-related disabilities in China.
“This IPO is a historic day for BGI,” said Yin Ye, CEO of BGI Genomics. “The capital raised will allow us to invest in the development of new services, top talent and lab infrastructure to benefit our global customers and to support our continued growth and innovation.”
BGI Genomics is a part of BGI Group, one of the world’s largest genomics organizations. BGI Group was founded in 1999 with the vision of using genomics to benefit humanity and has since become the largest genomic organization in the world. With a focus on research and applications in the healthcare, agriculture, conservation, and environmental fields, BGI Group has a proven track record of innovative, high profile research, which has generated over 2,000 publications.
BGI Genomics provides a wide range of commercial next generation sequencing services and a broad portfolio of genetic tests for medical institutions, research institutions and other public and private partners. BGI Genomics’ mission is to leverage its genomics expertise in order to advance life science research and to improve human health by providing high quality, affordable genomics powered health solutions that are available for everybody.
BGI Genomics has particular strengths in prenatal screening, hereditary cancer screening, testing for rare disease and in aiding precision medicine research. Numerous scientific partners, healthcare providers and pharmaceutical companies have come to rely on BGI Genomics’ world leading bio-informatics research and development, large scale computing infrastructure and proprietary sequencing platforms.
BGI Genomics is headquartered in Shenzhen, China, with branches and medical laboratories in major cities including Beijing, Tianjin, Wuhan, Shanghai and Guangzhou. BGI Genomics also has offices and laboratories located in Europe, North America and the Asia Pacific region.
For more information: www.bgi.com/global/
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