Jiangsu Hengrui Pharmaceuticals Co has started taking investor orders for a Hong Kong Special Administrative Region listing that could raise as much as HK$9.9 billion ($1.3 billion), the latest significant deal to boost the financial hub’s share-sale recovery.

The Chinese mainland drugmaker is offering 225 million shares at HK$41.45 to HK$44.05 apiece, according to its listing document on Thursday. Versus Hengrui’s last close in Shanghai on Wednesday, that’s a discount of as much as 28 percent — roughly in line with what Hong Kong shares trade at relative to their mainland-listed stocks.  

The Shanghai-listed stock rose as much as 0.9 percent on Thursday, while the benchmark index fell. The company, which focuses its research on cancer and cardiovascular diseases, plans to list its shares on May 23.

READ MORE: Mainland-based drugmaker Hengrui Pharma files for HK listing

Hengrui joins a growing group of mainland-listed firms seeking second listings in the SAR. The deal comes just after electric vehicle (EV) battery giant Contemporary Amperex Technology Co Ltd finished taking orders from institutional investors this week for a listing that could raise at least $4 billion.

Cornerstone investors, who agree not to sell the stock for six months, made up more than 40 percent of the share sale. They included GIC Pte, Invesco Advisers Inc, Hillhouse Investment, Millennium Management and Oaktree Capital Management.

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Morgan Stanley, Citigroup Inc and Huatai Financial Holdings are joint sponsors of Hengrui’s share sale.