WuXi Biologics raises HK$4B in IPO

WuXi Biologics Inc. (HKSE:2269) raised HK$4 billion ($510 million) through the sale of 193 million shares at HK$20.60 in an IPO, a source with knowledge of the situation told BioCentury. The price values the company at HK$23.4 billion ($3 billion).

Last month, the company hoped to sell 193 million shares at HK$18.60-HK$20.60. The prospectus said the underwriters were BofA Merrill Lynch, Morgan Stanley and China Merchants Securities. At the HK$19.60 midpoint, the company would have raised HK$3.8 billion ($485.3 million) and been valued at HK$22.2 billion ($2.9 billion)...