WuXi AppTec files for pub­lic list­ing in Hong Kong four months af­ter ex­plo­sive Shang­hai IPO

Since go­ing pub­lic in Shang­hai this May, WuXi AppTec has more than tripled its share price. It’s now look­ing to take the mo­men­tum to Hong Kong.

The pow­er­house con­tract re­search or­ga­ni­za­tion has filed for an IPO, eye­ing a mas­sive of­fer­ing that could fetch more than $1 bil­lion, anony­mous sources tell Bloomberg, on the heels of sev­er­al big IPOs by As­cle­tis, BeiGene and Hua Med­i­cine.

Un­like these biotechs, which Hong Kong’s new rules are meant to at­tract, WuXi has been gen­er­at­ing a siz­able rev­enue. It’s al­so been ex­pand­ing its glob­al op­er­a­tions, with sub­sidiary WuXi Bi­o­log­ics blue­print­ing sev­er­al man­u­fac­tur­ing sites in Shang­hai, Shi­ji­azhuang and Worces­ter, MA. WuXi Bi­o­log­ics is cur­rent­ly list­ed in Hong Kong, hav­ing raised $509 mil­lion last June.

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