WuXi AppTec raises $902.62 million in Shanghai IPO

China's leading global contract research outsource provider WuXi AppTec, successfully listed on the main board of the Shanghai Stock Exchange on Tuesday, marking the nation's first unicorn enterprise to get initial public offering approval on the A-share market.

WuXi AppTec raised 5.74 billion yuan ($902.62 million) in the IPO. The company plans to issue 104 million shares, taking up no less than 10 percent of its total share capital, and sell shares at 21.60 yuan each, it said in its prospectus to the Shanghai Stock Exchange. Its closing price was 31.10 yuan per share.

WuXi AppTec said it will use the proceeds in its expansion projects in Tianjin and Suzhou, Jiangsu province, and its research and development center at its operational headquarters in Shanghai.