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WuXi AppTec Plans Private Share Placement

   By P.R. Venkat 
 

WuXi AppTec Co. is planning to raise funds via a private share placement to finance some of its projects.

Under the plan, the pharmaceutical and medical device company is planning to issue 75-million A- shares and 68.21 million H-shares, it said Wednesday.

Wuxi AppTec is listed both on the Shanghai and Hong Kong stock exchanges.

The company intends to raise up to 6.53 billion yuan ($924.52 million) from the A-share issuance. Wuxi AppTec didn't disclose how much it intends to raise from the H-shares.

Up to 35 investors including investment-management companies and qualified foreign institutional investors are the target subscribers for the A-share placement, the company said.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 

(END) Dow Jones Newswires

March 24, 2020 21:00 ET (01:00 GMT)

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