WuxiAppTec raised HK$7.70 billion (US$981 million) in a sale of additional shares to fund its global expansion
The Shanghai-based company sold 73.8 million new shares to institutional investors at HK$104.27 each, a 6.9 per cent discount to their closing price of HK$112 on Wednesday, it said in a filing to Hong Kong’s bourse on Thursday. The stock fell 5.2 per cent to HK$106.20 amid a declining market at 10.20am.
The sale of additional shares, involving the issuance of stock equivalent to a 2.57 per cent stake in the company, was led by Morgan Stanley, Citi, Goldman Sachs and HSBC.
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