WuXi Bio, InnoCare tap equity investors for HK$16bn

Pharma_drugs_adobe_575x375.jpg
By Jonathan Breen
03 Feb 2021

Chinese biopharmaceutical duo WuXi Biologics (Cayman) and InnoCare Pharma raised a combined HK$16.2bn ($2.1bn) on Tuesday from selling new stock.

WuXi turned to investors after Hong Kong markets closed, looking to sell 88m primary shares, according to a source familiar with the matter. It initially offered the stock at HK$110.50 to HK$113.00 each, giving it a possible take of between HK$972.4m and HK$994.4m. 

The price range meant Morgan ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial