BRIEF: Hengrui executive to sell nearly 500,000 A-shares

Pharmaceutical company Jiangsu Hengrui Pharmaceuticals Co. Ltd. (1276.HK; 600276.SH) said on Sunday that executive director and senior vice president Sun Jieping will sell up to 476,700 of his A-shares in the company for personal reasons. Hengrui said Sun, who is the company’s deputy general manager, will sell the stock via centralized bidding during the three months starting 15 trading days after the disclosure.

Sun holds about 1.9 million Hengrui shares, accounting for roughly 0.029% of its total share capital, predominantly acquired through equity incentive plans. His planned sale represents about 0.007% of the company’s total share capital.

Hengrui is listed in Shanghai and made a second listing in Hong Kong at the end of last month. The offering was oversubscribed by about 454 times, with the international portion oversubscribed by 16 times. It priced its Hong Kong shares at HK$44.05 each, raising nearly HK$10 billion ($1.27 billion).

Shares of Hengrui opened down 0.5% at HK$57.50 on Monday. The stock is up around 30% from its Hong Kong listing price.

By Lau Chi Hang

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