WuXi AppTec Co., Ltd. Class H (HK:2359) has released an update.
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WuXi AppTec Co., Ltd. has announced the proposed issue of $500 million guaranteed convertible bonds, set to mature in 2025. If fully converted, these bonds will amount to roughly 12.54% of the present H share capital, with an initial conversion price of HK$80.02 per share, a significant premium over recent trading prices. The company plans to use the proceeds from this subscription in a manner specified in their ‘Use of Proceeds’ section.
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