Wuxi Biologics Prices Hong Kong IPO At $511 Million

Published: Jun 07, 2017

WuXi Biologics priced its Hong Kong IPO at the top of the range, raising $511 million, according to numerous sources. Demand for the offering was strong, caused by the WuXi pedigree and the fast growing revenues of the biologics business-- up 91% in the first nine months of 2016. The WuXi Biologics offering was 30 times oversubscribed, potential cornerstone investors were turned away, and underwriters closed their books early. The offering values WuXi Biologics at $3 billion, and the new shares are expected to begin trading in Hong Kong on June 13.

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