Mabwell (Shanghai) Bioscience Co., Ltd. (Ticker: 2493 HK) is a Chinese biotechnology company focusing on the research, development, manufacturing, and distribution of biologic drugs. Mabwell plans to list on the Hong Kong Stock Exchange on April 28, 2026, planning to offer 47.13 million shares at an expected price range of HKD 27.64 to HKD 30.71, raising HKD 1.45 billion (USD 184.83 million).

According to the prospectus, the company specializes in therapies for oncology, immunology, ophthalmology, and orthopedics. Its pipeline includes monoclonal antibodies, biosimilars, and a core Nectin-4 targeting antibody-drug conjugate currently in multiple clinical trials. The upcoming listing is structured as an H Share issuance, which will complement the company's existing A Shares already listed on the Shanghai Stock Exchange STAR Market.

As reported in the published terms, Mabwell plans to use the IPO proceeds primarily for research and development, enhancing product capacity, brand promotion, and business development. Additional funds are earmarked for working capital, strategic acquisitions, and other general corporate purposes. Reportedly, the joint sponsors and underwriters managing the offering include Haitong International Capital, CITIC Securities, and ABCI Capital.