Ashurst is advising Chinese drugmaker Luye Pharma Group Ltd. on its $764 million initial public offering in Hong Kong.

Luye makes cancer, heart and gastrointestinal medications mainly for the Chinese market. According to media reports citing people familiar with the matter, the company received orders for 999.6 million shares at $0.76 apiece, the high end of the stock’s expected price range. Luye will list on the Hong Kong Stock Exchange on July 9.

The funds raised from the IPO will be used to expand Luye’s product portfolio, for research and development of new treatments and the acquisition of other pharmaceutical companies.

The deal marks Luye’s second run as a public company. Previously, the company traded on the Singapore Exchange, but it was taken private in 2012 by Chinese private equity funds CDH Capital, Citic Private Equity and New Horizon Capital, and Luye’s founders.

Hong Kong partners Lina Lee and Stuart Rubin are leading the Ashurst team advising Luye Pharma on the U.S. and Hong Kong law aspects of the IPO. King & Wood Mallesons is advising the company on Chinese law, while Conyers Dill & Pearman is serving as Bermuda counsel.

Herbert Smith Freehills Hong Kong partners Gary Lock and Kevin Roy are representing joint global coordinators UBS AG, Citigroup Global Markets Asia Ltd. and CLSA Ltd. Grandall Law Firm is acting for the banks on Chinese law.

Email: tbrennan@alm.com.