WuXi PharmaTech Co., Ltd. Prices IPO above Range
8/9/2007 12:21:05 PM
August 9, 2007 – WuXi PharmaTech (WX), the contract research organization (CRO) based in Shanghai, priced its IPO at $14 last night, just above the $11 to $13 range it announced in its prospectus. When trading began this morning, the stock jumped 32% to $18.50. In the early going, WuXi has traded between $18 and $19.49. Two hours into the session, WuXi is holding the $18.50 opening price. At this price, WuXi has a market capitalization of $1.1 billion. As we reported earlier, WuXi presents a very strong investment case. More details...