Hengrui Pharma Prices Hong Kong IPO at Top of Range, Raises HK$9.9 Billion

MT Newswires Live05-21

Jiangsu Hengrui Pharmaceuticals (HKG:1276, SHA:600276) priced its initial public offering in Hong Kong at the upper limit of its indicative range to raise HK$9.89 billion.

The Chinese drugmaker issued 224.5 million shares at HK$44.05 each, the top end of its guidance of as low as HK$41.45 per share, according to a Wednesday filing with the Hong Kong Exchange.

The pharmaceutical company intends to disclose the allocation results of its secondary listing on May 22, Thursday, and begin trading on the Hong Kong bourse on May 23, Friday.

The deal follows CATL's (HKG:3750, SHE:300750) over HK$35 billion share sale, reportedly the world's largest listing this year, according to Reuters.

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