Jiangsu Hengrui Pharmaceuticals surges 27pc ahead of HK IPO

Shares of Chinese drug developer and producer Jiangsu Hengrui Pharmaceuticals rose just over 27 percent in the local gray market on Thursday ahead of its trading debut in Hong Kong on Friday.

On Futu Securities’ platform, its shares as of 4.30pm climbed 27.4 percent to HK$56.10 against its offer price of HK$44.05, the higher end of the price range, giving a paper gain of HK$2,410 per board lot of 200 shares.

The drugmaker is expected to raise up to HK$13.1 billion if it fully exercises the over-allotment option.

It closed at 55.6 yuan (HK$60.42) on Thursday in Shanghai.

STAFF REPORTER