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WuXi Biologics to Raise up to $513 Million in Hong Kong IPO

publication date: May 25, 2017
According to sources, the upcoming Hong Kong IPO for WuXi Biologics, a CRO/CMO, will raise up to $513 million. That values WuXi's biologics subsidiary at $2 billion, if WuXi follows the common practice of offering 25% of its shares (Hong Kong requires that companies must offer at least that much in an IPO). WuXi Biologics filed for the IPO in January, but the filing did not contain details of the offering. WuXi has still not announced these details officially, though the reports sound definitive. The $513 million transaction is a large increase over the $300 million January whisper number. Preparations for the IPO are expected to launch soon. More details....

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