New Stock News: WUXI XDC starts its IPO today with an entrance fee of 10,404 yuan.
药明合联， which was spun off from WuXi AppTec, has announced the details of its IPO. It plans to globally issue approximately 1.
WUXI XDC (02268.HK), which was spun off from WUXI BIO (02269.HK), has announced the details of its IPO. It plans to globally issue approximately 178 million shares, with about 10% of the shares offered in Hong Kong and about 90% offered internationally. The IPO price per share is expected to be between HKD 19.9 and HKD 20.6. With a minimum board lot size of 500 shares, the entry fee for one board lot is HKD 10,403.88. The IPO subscription period starts today (7th) and ends at noon on Friday (10th), with the listing expected to take place on the following Friday (17th). The joint sponsors are Morgan Stanley, Goldman Sachs, and Morgan Stanley. The company has attracted 7 cornerstone investors, including Invesco, General Atlantic Singapore Fund, Qatar Investment Authority subsidiary Al-Rayyan Holding, UBS AM Singapore, HongShan Funds, Novo Holdings, and Lake Bleu Prime under Qingchi Capital (Hong Kong), with a total subscription of HKD 2.347 billion worth of company shares. Based on the median IPO price of HKD 20.25, the company is expected to raise approximately HKD 3.423 billion in net proceeds from the IPO. About 67% of the funds are planned to be used for building facilities and expanding service capabilities in Singapore and China, approximately 23% for selectively seeking strategic alliances, investment opportunities, and acquisitions, and about 10% for working capital and other general corporate purposes. (jl/cy)