Summary by Moomoo AI
WuXi AppTec announced on October 7, 2024 that it plans to issue a total of $0.5 billion, zero-coupon secured convertible bonds due in 2025. The preliminary conversion price of the bonds is $80.02 Hong Kong dollars per H-share, representing a premium of approximately 15.97% to 27.02% over the closing price of the Hong Kong Stock Exchange on the day. Assuming full conversion of all bonds, it will be converted into approximately 48,522,244 H-shares, accounting for about 12.54% of the total H-share capital already issued by the company. The net proceeds from the bond issuance of approximately $494,400,000 will be used to support the company's global business development and debt refinancing. After the bond issuance is completed, application will be made for listing on the Hong...Show More