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Business

WuXi Biologics shares surge on first day of trading

by Jean-François Tremblay
June 19, 2017 | A version of this story appeared in Volume 95, Issue 25
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Shares in WuXi Biologics surged 39% on June 13, its first day of trading on the Hong Kong Stock Exchange. The company, a Chinese contract researcher and manufacturer of antibody-drug conjugates and other biological drugs, raised more than $500 million from its initial public offering. WuXi Biologics is a subsidiary of the giant contract research firm WuXi AppTec, which delisted from the New York Stock Exchange in 2015 after a management buyout. At the time, WuXi’s Chair Ge Li said he did not intend to relist the company on a stock exchange in China.

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