WuXi AppTec, the main shareholder of WuXi Biologics, plans to distribute existing shares worth 5.78 billion Hong Kong dollars.

According to an announcement on the Hong Kong Stock Exchange, WuXi Biologics Holdings Limited, the major shareholder of WuXi Biologics Limited Company, will sell 150 million existing shares through a block trade at a price of HK$38.52 per share. It is estimated that this placement will raise approximately HK$5.78 billion for WuXi Biologics Holdings. These shares represent approximately 3.63% of the total issued share capital of WuXi Biologics. The placement price represents a 3.75% discount compared to the closing price of HK$40.02 per share on Thursday. After the placement is completed, WuXi Biologics Holdings' shareholding will decrease from approximately 12.12% to 8.49%. Morgan Stanley is the placement agent.