Ge Li’s fast-grow­ing WuXi Bi­o­log­ics sets the stage for a $513M IPO

WuXi Bi­o­log­ics, a big one-stop shop for drug dis­cov­ery, de­vel­op­ment and man­u­fac­tur­ing in Chi­na, has re­port­ed­ly set its sights on a $513 mil­lion IPO.

Ac­cord­ing to a re­port in Reuters, the com­pa­ny plans to sell 193 mil­lion shares at HK$18.60 to HK$20.60 each, valu­ing the to­tal deal at up to HK$3.98 bil­lion.

Just a few months ago, the com­pa­ny was talk­ing about rais­ing $200 mil­lion to $300 mil­lion through the IPO on the Hong Kong mar­ket. This lat­est re­port dou­bles that amount, high­light­ing the over­sized role that com­pa­ny founder Ge Li has in the coun­try’s biotech in­dus­try.

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