WuXi AppTec plans $140m share repurchase and special dividend

WuXi AppTec (SSE:603259) announced plans for a $140 million (RMB 1,000,000,000) A-share repurchase via centralized bidding, alongside a special cash dividend of RMB 3.5000 per 10 shares. These moves aim to bolster investor confidence after completing the sale of some units and focus more on their core CRDMO business. WuXi AppTec sold its WuXi ATU (Advanced Therapies) business' U.S. and UK operating units to ensure its customers have uninterrupted service and its international business interests are in line with regulations. If approved, the share repurchase program will be valid for up to 12 months following shareholder approval, and the special dividend will be paid after the share buybacks. According to WuXi AppTec, the repurchase will be funded from its own and self-raised funds. If approved, the buyback would cover the company's A-shares and will not have major legal, financial or operational effects on its divisions. This special dividend was initiated in 2024 and, since then, has only furthered improved business functions for WuXi.