WuXi AppTec Adjusts Conversion Price of Convertible Bonds

WuXi AppTec Co., Ltd. Class H ( (HK:2359) ) has issued an announcement.

WuXi AppTec Co., Ltd. announced an adjustment to the conversion price of its $500 million zero coupon guaranteed convertible bonds due 2025. The conversion price has been adjusted from HK$80.02 to HK$78.28 per H Share following the approval of the 2024 Profit Distribution and the 2025 Special Dividend Distribution. This adjustment will result in an increase in the number of H Shares issuable upon full conversion of the bonds, enhancing the company’s share capital and potentially impacting its market positioning.

The most recent analyst rating on (HK:2359) stock is a Buy with a HK$50.00 price target. To see the full list of analyst forecasts on WuXi AppTec Co., Ltd. Class H stock, see the HK:2359 Stock Forecast page.

More about WuXi AppTec Co., Ltd. Class H

WuXi AppTec Co., Ltd. is a joint stock company incorporated in the People’s Republic of China, operating within the pharmaceutical and biotechnology industry. The company is known for providing comprehensive laboratory and manufacturing services that enable the global pharmaceutical, biotechnology, and medical device industries to advance discoveries and deliver groundbreaking treatments to patients.

Average Trading Volume: 8,695,440

Technical Sentiment Signal: Buy

Current Market Cap: HK$192.3B

For an in-depth examination of 2359 stock, go to TipRanks’ Stock Analysis page.