WuXi AppTec converts $500m bonds, continues share buybacks

WuXi AppTec Co., Ltd. converted $500 million in zero coupon convertible bonds due 2025, creating 3.2 million new H shares at HK$78.28 each. This increased total H shares to 464 million, representing a 0.7% increase.

The company simultaneously continued its A-share buyback program on the Shanghai Stock Exchange, repurchasing 308,294 shares for 28 million yuan on August 8. Share prices ranged from 89.58 to 91.5 yuan each.

Since June 26, WuXi AppTec has repurchased A-shares daily, with amounts ranging from 61,200 to 327,200 shares per day. The repurchased shares are held as treasury stock.