SPPI - Week In Review: China Pharmas Announce Deals Worth $1.5 Billion
Deals and Financings
WuXi AppTec (SHA: 603259), China's largest CRO/CMO, completed a $1 billion IPO on the Hong Kong markets, pricing the offering in the middle of the expected range. In May, WuXi became a public company by completing a $328 million IPO in Shanghai. Since the offering, the company's shares have nearly quadrupled. The Hong Kong offering was completed at a $10 billion valuation, about a 16% discount to its valuation in Shanghai. In 2015, WuXi was privatized from the New York Exchange at a value of $3.3 billion.
Shanghai Fosun Pharma (SHA: 600196;