China's WuXi PharmaTech Closes Initial Public Offering

   Date:2007/08/16     Source:

China's WuXi PharmaTech (Cayman) Inc, a New York Stock Exchange-listed pharmaceutical and biotechnology research and development outsourcing company, said in a statement that it has closed its initial public offering of 15,167,326 American Depositary Shares (ADSs).

This also includes the 1,978,347 ADSs issued in connection with the exercise of the over-allotment option in full.

Shanghai-based WuXi PharmaTech's ADSs commenced trading on the New York Stock Exchange on Aug 9 under the symbol 'WX'.

Credit Suisse Securities (USA) LLC and JP Morgan Securities Inc acted as lead underwriters and joint book-runners, while Jefferies & Co Inc acted as a co-manager in the offering.

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