June 6, 2017 / 3:01 AM / 8 months ago

WuXi Biologics prices HK IPO on top, raising $511 mln-source

HONG KONG, June 6 (Reuters) - WuXi Biologics (Cayman) Inc, a Chinese contract drug research and development company, priced its Hong Kong initial public offering at the top of expectations, raising about $511 million in the largest new listing in the Asian financial hub in 2017.

The company priced the 193 million shares on offer at HK$20.60 each, the top of its marketing range of HK$18.60 to HK$20.60 per share, added the source, who couldn’t be named because details of the IPO pricing aren’t yet public. That would value the deal at HK$3.98 billion ($511 million).

WuXi Biologics didn’t immediately reply to a Reuters request for comment on the IPO price. (Reporting by Julie Zhu; Writing by Elzio Barreto; Editing by Michael Perry)

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