Wuxi Biologics Rises 37% in First Hong Kong Trading Session
Published: Jun 15, 2017
June 13, 2017 -- In its first day of trading on the Hong Kong Exchange, WuXi Biologics rose 37%, showing that the newly listed company continues to attract heavy investor interest following its IPO. The open market trading increased the company's market capitalization to $4.1 billion. Last week, WuXi Biologics raised $511 million in an IPO that was heavily oversubscribed. The company comprises the biologic CRO/CMO operations of well-known WuXi AppTec, which continues to be privately held. Headquartered in Wuxi city, Wuxi Biologics has facilities in Wuxi, Shanghai and Suzhou.