WuXi AppTec

The Chinese company WuXi AppTec founded in Shanghai in 2000 positions itself as the global provider of services of Research and Development, first in revenue in Asia, in pharmaceutical area. The company works in segments of laboratory researches and productions and also provides services in testing of medical products.

Performance Indicators

2018

From financial statements of vendor it is known that WuXi revenue in the first half of 2018 made 4.41 billion yuans ($635 million), having increased almost by a quarter in comparison with a last year's indicator of 3.67 billion yuans. The semi-annual net profit of WuXi jumped by 67% year on year and reached 1.3 billion yuans ($187 million).

History

2018: Entry into the exchange; attraction to $1.06 billion

At the end of November, 2018 it became known of WuXi entry into the Hong Kong stock exchange. Based on the IPO the Chinese medical technical-company expects to attract from $954 million to $1.06 billion. The Reuters news agency reports that the company offered for sale 116.47 million actions at the price from 64.1 up to 71.5 Hong Kong dollars ($8.19 - $9.13) that is 19-27% lower than WuXi security price at the time of closing of the exchange on November 27.

It is expected that the company will be able to attract up to $1.2 billion in case of a complete option exercise of additional placement. The IPO sponsor banks Goldman Sachs, Huatai Financial and Morgan Stanley.

The WuXi medical technical-company went public

Income gained from share placing at the exchange, WuXi is going to use for expansion of all directions of the business in the different countries. The company intends to select financing for seven projects in China, including for R&D-кампуса in the city of Chengdu and also to equip bioanalytical laboratory in San Diego (the State of California, the USA). Besides, a part of means will be spent for purchase of the companies specializing in carrying out scientific research under the contract.^[1]

Notes