China Merchants Securities Co

WuXi Biologics is set to price its HK$3.9bn ($510.4m) IPO at the top of expectations following a blockbuster response from investors.

WuXi Biologics’ HK$3.9bn ($510.4m) IPO is off to a resounding start, with books multiple times covered within hours of opening on Thursday, according to bankers close to the deal.

China Feihe filed a listing application in Hong Kong on Wednesday, four years after it was taken private from the New York Stock Exchange.

WuXi BioLogics will kick off pre-deal investor education for its Hong Kong IPO on Wednesday as it looks to raise $400m-$500m.

Volkswagen (VW) priced the senior class A and class B portions of its Rmb4.5bn ($652.66m) Driver China Six Trust on May 12. The originator opted for a pure static asset pool for its first 2017 ABS outing, having gone down the revolving route in its last transaction.

Bank of Communications’ investment banking arm has scooped up HK$1.8bn ($231.2m) from its IPO, pricing near the bottom of guidance to ensure a quality book.

WuXi BioLogics, which is planning a $200m-$300m IPO in Hong Kong, is set to begin investor education next week if the stock exchange grants it approval at a listing hearing on May 15, said a banker close to the deal.

Bright Scholar Education Holdings had covered its $150m US IPO as of Monday, according to bankers arranging the deal.

AMTD Strategic Capital Group, the insurance brokerage arm of AMTD Group, is planning to list in Hong Kong, according to a filing with the stock exchange on Monday.

Dongfeng Nissan Auto Finance priced its Rmb4bn ($580.59m) VINZ 2017-1 Retail Auto Loan Securitization on Thursday last week — the originator’s fifth in China.

Books for Bright Scholar Education Holdings’ $150m IPO in the US were covered as of Monday, according to bankers arranging the deal.

Guangzhou Rural Commercial Bank Co will drum up interest for its $1bn Hong Kong IPO next week, said bankers on the trade.