Wilson Sonsini Goodrich & Rosati and Fangda Partners have advised Chinese medical tech platform WuXi AppTec on its $1 billion Hong Kong initial public offering, with Shearman & Sterling and Jia Yuan Law Offices representing the sponsors.

According to Reuters, the listing values the company at $10.2 billion in a deal that marks one of this year’s last big stock offerings in the Asian financial hub.

Hong Kong is poised to become the world’s top IPO centre by volume this year, with $33.2 billion raised so far, Refinitiv data shows.

Shanghai-based WuXi AppTec describes itself as the largest pharmaceutical R&D services platform in Asia by revenue. The company had revenues of 4.41 billion yuan ($641 million) in the first half of this year, versus 3.67 billion yuan in the same period last year, according to its listing prospectus. 

The sponsors included Morgan Stanley Asia Limited, Huatai Financial Holdings (Hong Kong) Limited and Goldman Sachs (Asia). The Shearman team representing them was led by partners Colin Law and Matthew Bersani Law has since moved to Fangda.

To contact the editorial team, please email ALBEditor@thomsonreuters.com.