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WuXi AppTec Completes 6.8 Billion Yuan Convertible Bond Issue

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WuXi AppTec (HKG:2359, SHA:603259) completed the issuance of 6.78 billion yuan in USD-settled zero-coupon convertible bonds due 2027, according to a Thursday Hong Kong bourse filing.

Hong Kong-listed shares of the firm were down nearly 2% in Friday morning trade.

The company said net proceeds from the bond offering will total about $1.02 billion after expenses.

About 90% of the proceeds will be used for global capacity and capability expansion, while the remaining 10% will be used for general corporate purposes.

WuXi AppTec said it has obtained approval for the listing of the conversion shares in Hong Kong, while the application to list the bonds on the Vienna Stock Exchange remains subject to approval.

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