China's WuXi AppTec seeks to raise $1 billion in convertible bonds

WuXi AppTec

15/05/2026 01:26

May 15 (Reuters) - Chinese pharmaceutical services firm WuXi AppTec 603259.SS said on Friday it has signed a subscription agreement to issue 6.78 billion yuan ($999.25 million) of zero-coupon convertible bonds.

Here are some of the details:

The firm said the bonds are convertible into H shares at an initial price of HK$153.00 per H Share.

The conversion price represents a premium of about 17.6% to the stock's last close on May 14, WuXi said.

The firm said the net proceeds from the issuance of bonds would be around $1.02 billion, which it intends to use for general corporate purposes, among others.

The bonds would mature in May 2027 and do not bear any interest, WuXi added.

($1 = 6.7851 Chinese yuan)

 (Reporting by Rajasik Mukherjee; Editing by Subhranshu Sahu)

 ((Rajasik.Mukherjee@thomsonreuters.com;))