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WuXi AppTec raises further HK$352.8M in IPO

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WuXi AppTec raises further HK$352.8M in IPO

China's WuXi AppTec Co. Ltd. raised a further HK$352.8 million from its Hong Kong IPO after the offering's underwriters partially exercised their overallotment option.

The underwriters bought an additional 5,321,200 H shares at HK$68.00 apiece, representing about 4.57% of the total shares offered in the transaction. H shares are shares of Chinese companies that are listed in Hong Kong or another country.

WuXi AppTec, which is also listed in Shanghai Stock Exchange, previously issued approximately 116 million shares at HK$68 in the IPO, raising net proceeds of about HK$7.55 billion, excluding the overallotment option.

The company's shares closed at their issue price of HK$68 per share in Hong Kong on its first day of trading in Dec. 13, 2018.