WuXi AppTec has filed for a Hong Kong IPO that is expected to raise at least $1 billion. The company, China’s largest CRO/CMO, completed a $354 million IPO on the Shanghai Exchange just over four months ago. Since then, its shares have nearly quadrupled, giving the company a market valuation of $13.1 billion. This is in addition to the $13.4 billion valuation of WuXi Biologics, which IPO’d in Hong Kong one year ago. Three years ago, the company was privatized by its Chairman, Ge Li, plus investors that included Ally Bridge Group and Hillhouse Capital.
Source: China Biotoday
