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Financials

WuXi Biologics to launch $513 mln Hong Kong IPO on Thursday -IFR

HONG KONG, May 24 (Reuters) - WuXi Biologics (Cayman) Inc, a Chinese contract drug research and development company, plans to launch on Thursday an initial public offering of up to $513 million in Hong Kong, IFR reported, citing people close to the deal.

The company is offering 193 million shares in an indicative range of HK$18.60 to HK$20.60 each, valuing the total deal at up to HK$3.98 billion, the Thomson Reuters publication added.

WuXi Biologics, which does work for pharmaceutical and biotechnology firms, did not immediately respond to a Reuters request for comment.

Bank of America Merrill Lynch, China Merchants Securities and Morgan Stanley are joint sponsors of the IPO, the listing prospectus shows. ($1=7.7891 Hong Kong dollars) (Reporting by Fiona Lau of IFR; Writing by Elzio Barreto; Editing by Clarence Fernandez)

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