WuXi AppTec raises HK$7.7bn through H share placing

WuXi AppTec announced a placing of 73.8 million new H shares, raising gross proceeds of approximately HK$7.70 billion at HK$104.27 per share - a 6.90% discount to the July 30 closing price.

The company will allocate 90% of the HK$7.65 billion net proceeds towards global expansion and capacity construction, with 10% for general corporate purposes. The placement utilizes nearly 97% of the company's available general mandate.