Chinese drug developer Jiangsu Hengrui Pharmaceuticals has priced its stock offering on the Hong Kong Stock Exchange at HK$44.05 a share, the top of its price range, to raise $1.27 billion, it said on Wednesday.

Hong Kong-traded shares in CATL, the world’s largest maker of batteries for electric vehicles, have jumped after the company raised around $4.6 billion in the biggest initial public offering globally

A global leader in the sector, CATL produces more than a third of all electric vehicle (EV) batteries sold worldwide.