Fujian Haixi Pharmaceuticals (HKG:2637) raised HK$940.1 million in net proceeds from its initial public offering in Hong Kong, following a delay in the disclosure of the allocation results, which were supposed to be released on Oct. 16.

The commercial-stage pharmaceutical company earlier said IPO results disclosure was hampered by the lack of time to finalize its listing announcement and secure regulatory clearance.

The final offer price of the deal was set at HK$86.40 per share, the top end of the price range, according to an after-market Hong Kong bourse filing on Friday.

The Hong Kong public offer was 3,165.1 times oversubscribed, and the company issued 1,150,000 shares under this component, the same number as the initial allocation.

The international offering was 6.3 times subscribed, maintaining the size of the allocation under this component at 10,350,000 shares.

Cornerstone investor Harvest International Premium Value (Secondary Market) Fund SPC, acting on behalf of and for the account of Harvest Oriental SP, subscribed to 1,981,700 shares, comprising 17.23% of the offer shares.

Fujian Haixi Pharma will make its trading debut on the bourse Monday, Oct. 20.