Mabwell

Mabwell (Ticker: 2493 HK) researches, develops, manufactures, and distributes biologic medicines for conditions including cancer, immune disorders, eye diseases, and orthopedic conditions. Its pipeline includes monoclonal antibodies and biosimilars, as well as a Nectin-4-targeting antibody-drug conjugate being tested in multiple clinical trials. The Hong Kong listing is structured as an H-share issuance alongside the company’s existing A shares listed on the Shanghai Stock Exchange STAR Market. Planned uses of proceeds include research and development, expanding product capacity, brand promotion, business development, working capital, strategic acquisitions, and other general corporate purposes.

The scheduled listing date on Hong Kong Stock Exchange was April 28, 2026. The proposed offering comprises 47,130,000 shares at an indicative price range of HKD 27.64–30.71 per share. At the indicative range midpoint, the base offering would represent HKD 1.38 billion, approximately $175.21 million in gross proceeds, excluding any unexercised over-allotment.

Haitong International Capital, CITIC Securities, and ABCI Capital are joint sponsors and underwriters.