WuXi AppTec Co., Ltd. (603259.SH / 2359.HK, “WuXi AppTec”) successfully completed the offshore issuance of RMB 6.78 billion in U.S. dollar-settled zero-coupon convertible bonds due 2027. After deducting underwriting commissions and other expenses related to the transaction, the net proceeds from the bond subscription amounted to approximately USD 1.023 billion. The proceeds will be used as follows: (1) approximately 90% for global capacity and capability expansion; and (2) approximately 10% for general corporate purposes.
With operations across Asia, Europe and North America, WuXi AppTec provides integrated, end-to-end new drug R&D and manufacturing services for the global pharmaceutical and life sciences industries. Through its unique “CRDMO” business model, the company continuously lowers the barriers to drug development, enhances R&D efficiency for its customers, and helps bring more breakthrough therapies to patients. Its service offerings include chemical drug R&D and manufacturing, biological research, and preclinical testing and clinical development.
Fangda Partners acted as PRC legal counsel to WuXi AppTec, provided comprehensive legal services throughout the transaction, and assisted with the filing to the China Securities Regulatory Commission. The Fangda team was led by partners HUANG Chao and WANG Mengjie. Team members included Yvonne GAN, Cesar CHANG, Ellyn AI, HU Yanhui, WU Siling, Hermila ZHANG, LI Yucheng, and May ZHANG.
