WuXi AppTec lines up HK top-up

摘要

Chinese biotech company WUXI APPTEC has turned to Hong Kong for a share sale, four months after its Shanghai IPO was cut in size. Based on last Thursday's closing price in Shanghai, the deal could raise up to US$2bn. WuXi AppTec's decision to turn to Hong Kong so quickly for funds has raised doubts about whether China's domestic capital markets can support the rapid growth of "new economy" companies, even after China stepped up efforts this year to attract listings from the sector.