WUXI APPTEC (02359) Proposes Issuance of USD-Denominated Zero-Coupon Convertible Bonds Totaling RMB 6.78 Billion Due 2027

Stock News05-15 08:06

WUXI APPTEC (02359) announced that on May 14, 2026, the company and the joint lead managers, namely Morgan Stanley, Citi, and Goldman Sachs, entered into a subscription agreement. Under this agreement and subject to the fulfillment of certain conditions specified therein, the company has agreed to issue, and the joint lead managers have agreed to subscribe for and pay (or procure subscribers to subscribe for and pay) bonds with a principal amount of RMB 6.78 billion.

The initial conversion price is set at HKD 153.00 per H share, representing a premium of approximately 17.60% over the last closing price of HKD 130.10 per H share on the Hong Kong Stock Exchange on May 14, 2026, the trading day when the subscription agreement was signed.

Assuming full conversion at the initial conversion price of HKD 153.00 per H share, the bonds would be convertible into approximately 51.147 million H shares. This would represent about 10.02% of the company's total issued H share capital as of the date of this announcement and approximately 1.71% of the total issued share capital.

Upon completion of the bond issuance, the total gross proceeds from the subscription are expected to be approximately USD 1.034 billion, with net proceeds estimated at around USD 1.023 billion. The company intends to allocate approximately 90% of these net proceeds for global capacity and capability development, and the remaining 10% for general corporate purposes.

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