Latest news with #Hengrui
South China Morning Post
23-05-2025
- Business
- South China Morning Post
Jiangsu Hengrui makes solid Hong Kong trading debut as shares jump 29%
Jiangsu Hengrui Pharmaceuticals, one of China's largest drug makers, began trading on the Hong Kong stock exchange on Friday, marking a key step in its international expansion and giving a boost to the city's recovering initial public offerings (IPO) market. Trading under code 1276, Hengrui first changed hands at HK$57.00, up 29.4 per cent to its offer price of HK$44.05, in a stock offering that raised HK$9.89 billion (US$1.26 billion). The strong debut signals solid investor confidence in the company's long-term prospects, particularly its growing international pipeline and innovative drug R&D capabilities. Retail investors in Hong Kong submitted bids that oversubscribed their tranche more than 450 times, while the institutional tranche was oversubscribed more than 17 times, according to a stock exchange filing on Thursday. 'Hengrui has experienced an extraordinary journey, growing into an innovative, international large-scale listed pharmaceutical company,' said Dai Hongbin, deputy chairman of Hengrui, adding that the company was honoured to complete the A shares plus H shares listing. 'Listing in Hong Kong is a key step for Hengrui to enter the international capital market and accelerate innovation and internationalisation,' he said. 'We will take this listing as a new starting point, remain true to our original aspiration, forge ahead, strive for high-quality development and global layout, and inject strong impetus into the high-quality development of China's pharmaceutical industry, providing better innovative medicines for patients worldwide.'
Bloomberg
15-05-2025
- Business
- Bloomberg
Hengrui Pharma Seeks Up to $1.3 Billion in Hong Kong Listing
Jiangsu Hengrui Pharmaceuticals Co. has started taking investor orders for a Hong Kong listing that could raise as much as HK$9.9 billion ($1.3 billion), the latest significant deal to boost the financial hub's share-sale recovery. The Chinese drugmaker is offering 225 million shares at HK$41.45 to HK$44.05 apiece, according to its listing document on Thursday. Versus Hengrui's last close in Shanghai on Wednesday, that's a discount of as much as 28% — roughly in line with what Hong Kong shares trade at relative to their mainland China-listed stocks.
South China Morning Post
05-05-2025
- Business
- South China Morning Post
Ahead of Hong Kong IPO, China drug maker Hengrui touts partnership with US giant Merck
Jiangsu Hengrui Pharmaceuticals, a leading Chinese developer of novel drugs that recently received approval to go public in Hong Kong, is likely to see an acceleration in growth as its research and development (R&D) pipeline bears fruit, analysts said. Advertisement 'Hengrui has achieved an industry-leading, highly differentiated innovative drugs pipeline, of which some have the potential to become commercialised heavyweights,' said Yongxing Securities analyst Peng Bo in a note on April 29. 'We expect its sales growth will continue to be driven by novel drugs, with the licensing of intellectual property rights to overseas partners as the second biggest revenue driver.' Last week, Hengrui said it received regulatory approval to float up to 815 million new shares on Hong Kong's stock exchange, which would account for 11.3 per cent of its enlarged share capital. Hengrui is seeking to raise up to US$2 billion, according to media reports. The company, which is based in eastern China's Jiangsu province, began operations in 1970 as state-owned Lianyungang Pharmaceutical Factory. It listed in Shanghai in 2000. Advertisement Over the years, it has shifted focus to developing novel drugs from making generic medicines. It has spent 44 billion yuan (US$6.05 billion) on R&D since 2000, according to its website, the highest tally on the mainland.
Bloomberg
28-04-2025
- Business
- Bloomberg
Hengrui Pharma Gets China Regulator's Nod for Hong Kong Share Sale
Jiangsu Hengrui Pharmaceuticals Co. received the green light from China's securities regulator for its Hong Kong listing, putting the Chinese drugmaker a step closer to a share sale that may fetch as much as $2 billion. The Shanghai-listed company plans to issue up to 815 million shares in Hong Kong, Hengrui said in an exchange filing Monday. The sale could occur as soon as this year, people familiar with the matter have said.
