By Scott Murdoch
SYDNEY (Reuters) -Chinese drug developer Jiangsu Hengrui Pharmaceuticals has priced its stock offering on the Hong Kong Stock Exchange at HK$44.05 a share, the top of its price range, to raise $1.27 billion, it said on Wednesday.
The company, also listed in Shanghai, sold 224.5 million shares in the deal, which had a price range of HK$41.45 to HK$44.05 each, according to regulatory filings.
Reuters had reported the final pricing earlier in the day.
Seven cornerstone investors subscribed for about $533 million worth of Hengrui stock, led by Singapore’s sovereign wealth fund GIC, which is taking about $268 million worth of the deal, the filings showed.
Hengrui’s shares are due to start trading on the Hong Kong Stock Exchange on Friday, the company said.
The Hengrui deal follows the Hong Kong listing of Chinese battery giant CATL, whose shares debuted on Tuesday. CATL raised $5.3 billion, the largest listing globally in 2025.
(Reporting by Scott Murdoch in Sydney and Aaditya Govind Rao in Bengaluru; Editing by Kate Mayberry and Savio D’Souza)
