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.

SHANGHAI: China and Hong Kong stocks rose on Wednesday, led by mining and battery shares, as a rally in gold prices and the strong Hong Kong debut of CATL boosted sentiment. China’s blue-chip CSI 300 Index added 0.7% by the lunch break, while the Shanghai Composite Index gained 0.4%. Hong Kong benchmark Hang Seng was up 0.5%.

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