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.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.