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WUXI APPTEC Proposes Issue of CBs at ~16% Premium; Net Proceeds US$494M
Recommend 8 Positive 15 Negative 7 |
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WUXI APPTEC (02359.HK) announced that it proposed issue of US$500 million zero coupon guaranteed convertible bonds due 2025. The initial Conversion Price was HK$80.02 per H Share, representing a premium of approximately 15.97% over the last closing price of HK$69 as quoted yesterday (7th). Assuming full conversion of the Bonds, the Bonds will be convertible into approximately 48.5222 million H Shares, representing approximately 11.14% of the enlarged total issued H share capital of the Company and and approximately 1.64% of the enlarged total issued share capital of the Company. The net proceeds from the Subscription of the Bonds will be approximately US$494 million. The Company intends to use such proceeds for, among others, global expansion, refinancing indebtedness and general corporate purposes. AAStocks Financial News |
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