Investing.com – Six months after issuing shares in Shanghai, drug research and development services company WuXi AppTec is now planning another floatation in Hong Kong.
Wuxi AppTech (SHA: 603259) will offer 116.5 million shares at between HK$64.10 and HK$71.50 to raise as much as HKD8.33 billion ($1.06 billion). For the six months to June 30, Wuxi AppTec reported revenue of $187.6 million.
The company’s shares in Shanghai were trading up 0.96% to CNY81 on Thursday morning.
The shares are expected to list on Dec. 13. Morgan Stanley (NYSE:), Huatai Financial and Goldman Sachs (NYSE:) (Asia) are jointly sponsoring the IPO.
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