WuXi PharmaTech to List Shares in CMO Subsidiary on China's Third Board

WuXi PharmaTech sold a 5.55% stake in SynTheAll Pharma, its chemical drug contract manufacturing subsidiary, to management of STA and WuXi for $28 million. The company also received permission to list STA shares on the New Third Board OTC exchange starting April 3. The owners of the STA shares may sell one-third of their shares on the exchange over the next year, establishing a price for STA. WuXi will not list additional shares at this time, but it has the flexibility to do so later, probably after STA migrates to Shenzhen's GEM exchange. More details.... Stock Symbol: (NYSE: WX) Share this with colleagues: // //