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WuXi PharmaTech to IPO Biologics Unit in Hong Kong

publication date: Feb 25, 2016
WuXi PharmaTech, China's largest CRO/CMO, is planning to conduct a Hong Kong IPO of its biologics subsidiary, according to a Bloomberg report. Biologics is WuXi's fastest growing subsidiary, and the IPO will value the unit at $1.5 billion, said Bloomberg. The Hong Kong Stock Exchange requires a company to list at least 25% of a company's stock in an IPO. which implies WuXi will raise at least $367 million. The transaction is a very fast turnaround for WuXi, which completed a $3.3 billion privatization of the entire company in November 2015. More details....

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