wuxi-raises-185-million-from-ipo

WuXi raises $185 million from IPO

The NYSE listing of the Chinese drug research company receives substantial demand, enabling it to price 8% higher than the top of the range.
China-based drug research and development outsourcing company, WuXi PharmaTech, has priced its US initial public offering 7.7% above the top of the range and raised $185 million. The deal could further increase to $212 million if a 15% greenshoe is fully exercised.

According to sources, the deal was 17 times covered with 280 accounts in the book. There was no real price sensitivity and the one-on-one hit rate during the roadshow was high. The majority of investors came from the US, but there was also considerable demand from Asia and Europe.

An observer close to the deal says the investor base is primarily long-only and includes global investors and some health care...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 1 article per month from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Share our publication on social media
Share our publication on social media