This is a short sale, going lower in the near term:
WuXi PharmaTech (Cayman) Inc. Announces Filing of Registration Statement For Follow-On and Secondary Offering
Friday April 4, 12:24 pm ET
SHANGHAI, China, April 4, 2008 /Xinhua-PRNewswire-FirstCall/ -- WuXi PharmaTech (Cayman) Inc. (NYSE: WX - News; "WuXi PharmaTech"), a leading pharmaceutical, biotechnology and medical device research and development outsourcing company with operations in China and the United States, today announced that it has filed a Registration Statement on Form F-1 with the Securities and Exchange Commission for a proposed follow-on and secondary public offering of American Depositary Shares. The securities to be sold in the proposed offering will include shares to be issued and sold by the company as well as shares to be sold by certain shareholders.
Credit Suisse Securities (USA) LLC and JP Morgan Securities, Inc. will act as lead underwriters and joint book-runners in the offering. Copies of the preliminary prospectus, when available, may be obtained by contacting Credit Suisse Securities (USA) LLC, Attn: Prospectus Department, One Madison Avenue 1B, New York, NY 10010; phone 1-800-221-1037; or by contacting JP Morgan Prospectus Library, 4 Chase Metrotech Center, CS Level, Brooklyn, NY 11245; phone 1-866-430-0686.
A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state.
surf's up......crikey
