China's Jiangsu Hengrui Pharmaceuticals aims to raise up to nearly HK$10 billion in Hong Kong IPO

Chinese drug developer and producer Jiangsu Hengrui Pharmaceuticals is seeking to raise up to HK$9.89 billion in a Hong Kong initial public offering, according to a regulatory filing made on Thursday.

Dubbed "Maotai of drugmaker", the giant asks for a minimum investment of HK$8,899 per board lot of 200 shares.

The offer price will be between HK$41.45 and HK$44.05 per share, according to a prospectus filed by the company to the Hong Kong Stock Exchange.

They represent a discount of 23 percent to 27.7 percent compared with the Wednesday close of Hengrui's Shanghai-listed shares.

The China-based company plans to offer 224.5 million H shares, which include 12.3 million shares allocated for Hong Kong retailers.

Dealings in shares on the Hong Kong Stock Exchange are expected to commence on May 23, the filing said.

REUTERS AND STAFF REPORTER