ARTICLE | Finance
Plus: Forbion and Ysios Capital’s Kynexis debuts and updates from BioMarin, Flagship, Gilead, Arcus, Takeda and the FTC
By BioCentury Staff
November 8, 2023 1:33 AM UTC
The latest WuXi entity seeking to go public, WuXi XDC, is seeking to raise as much as HK$3.7 billion ($470 million) in an IPO on the Hong Kong stock exchange that would value the bioconjuagte CRDMO at HK$23.9 billion, if it prices at the midpoint of its HK$19.90-HK$20.60 range. Underwriters on the deal include Morgan Stanley, Goldman Sachs, J.P. Morgan, CICC, Citigroup and HTSC. Shares in the new listing are expected to begin trading Nov. 17.
The offering would mark the third WuXi affiliate to go public since a 2015 deal that took the parent company private for $3.3 billion. WuXi Biologics Inc. (HKEX:2269) owns 60% of WuXi XDC, and STA Pharmaceutical, an indirect subsidiary of WuXi AppTec Co. Ltd. (Shanghai:603259; HKEX:2359), owns 40%. …