Shanghai-based WuXi PharmaTech announced on August 9, 2007 that its initial public offering of 13,188,979 American Depositary Shares (ADSs), each ADS representing eight ordinary shares, was priced at an initial public offering price of $14.00 per ADS. The ADSs began trading on the New York Stock Exchange on August 9, 2007 under the symbol "WX’.
Of the 13,188,979 ADSs sold in the offering, WuXi PharmaTech sold 1,000,000 ADSs, and selling shareholders sold 3,188,979 ADSs. WuXi PharmaTech has granted the underwriters a 30-day option to purchase up to an additional 1,978,347 ADSs to cover over-allotments.
Credit Suisse Securities (USA) LLC and J.P. Morgan Securities Inc. acted as representatives of the underwriters and joint book runners and Jefferies & Company, Inc. acted as co-manager for the offering.
The United States Securities and Exchange Commission has declared WuXi PharmaTech's registration statement to these securities to be effective. Neither this news release nor any part of the registration statement shall constitute an offer to sell or a solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.