Hengrui Pharma (Ticker: 1276 HK) is a Chinese company specializing in innovative pharmaceuticals, focusing on oncology, metabolic and cardiovascular diseases, immunological and respiratory diseases, and neuroscience. Hengrui Pharma plans to list its H-shares on the Hong Kong Stock Exchange Main Board on May 23, 2025. The company is offering 225 million shares at a price range of HKD41.45 to HKD44.05 per share, aiming to raise up to approximately HKD9.89 billion (around USD 1.27 billion). This H-share IPO represents a dual listing for the company, which already has A-shares listed in mainland China. Post-listing, Hengrui Pharma's market capitalization is estimated to be between USD 35.01 billion and USD 37.20 billion. Institutional demand for the IPO was reportedly strong.