HONG KONG, June 10 (Reuters) - United Overseas Bank Ltd UOBH.SI was selling $38.6 million worth of shares in China's biggest pharmaceutical research outsourcing company, Wuxi PharmaTech Inc WX.N, a source close to the deal said on Tuesday.
UOB was selling 2.1 million shares of Wuxi at $18.4 each, the source said. The offering price represents a 4.9 percent discount to the firm’s Monday closing price at $19.35.
Credit Suisse CSGN.VX is the arranger of the share sale.
United Overseas Bank has a 12.9 percent stake in Wuxi, according to a regulatory filing in February.
Reporting by Kennix Chim; Editing by Anne Marie Roantree
Our Standards: The Thomson Reuters Trust Principles.