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5.22.26
Wilson Sonsini Advises WuXi AppTec on Issuance of RMB6,780 Million USD Settled Zero Coupon Convertible Bonds Due 2027
On May 21, 2026, all the conditions precedent under the subscription agreement dated May 14, 2024, entered into between WuXi AppTec Co., Ltd. (WuXi AppTec), Morgan Stanley Asia Limited, Citigroup Global Markets Limited, and Goldman Sachs (Asia) L.L.C. have been fulfilled and the issuance of the RMB6,780 million USD settled zero coupon convertible bonds due 2027 (the Bonds) in an aggregate principal amount of RMB6,780 million was completed. The net proceeds from the subscription of the Bonds, after deducting the managers’ commissions and expenses in connection with the offering, will be approximately US$1,023 million, and will be utilized in the following manner: (a) approximately 90 percent will be used for global capacity and capability expansion and (b) approximately 10 percent will be used for general corporate purposes. A formal application has been made to the Vienna Stock Exchange for the listing of the Bonds on the Vienna Stock Exchange.
Client Highlights
1.28.26
Wilson Sonsini Advises Boyu Capital on $110 Million Convertible Bond Investment in Gushengtang
On January 26, 2026, Gushengtang Holdings Limited (Gushengtang) announced that it had entered into a subscription agreement with an investment vehicle of Boyu Capital for the issuance and subscription of convertible bonds of Gushengtang in the aggregate principal amount of $110 million.
Client Highlights
11.13.25
Wilson Sonsini Advises Huanxi Media on Strategic AI Cooperation with Stepfun
On November 11, 2025, Huanxi Media Group Limited announced that it has entered into a strategic framework agreement with Shanghai Stepfun Intelligent Technology Co., Ltd. to establish a joint venture aimed at leveraging artificial intelligence and large model technologies.
Client Highlights
10.28.25
Wilson Sonsini Advises WuXi AppTec on Sale of China-Based Clinical Research Services Business to Hillhouse
On October 24, 2025, WuXi AppTec Co., Ltd. (WuXi AppTec), a leading global provider of R&D and manufacturing-enabling services in the pharmaceutical, biotechnology, and medical device industries, announced that its wholly owned subsidiary has entered into a sale and purchase agreement to sell its two subsidiaries, WuXi Clinical Development Services (Shanghai) Co., Ltd. (WuXi Clinical) and WuXi MedKey Med-Tech Development (Shanghai) Co., Ltd. (WuXi MedKey), to Hillhouse Investment Management (Hillhouse), one of the world’s leading global private asset managers focusing on sectors such as healthcare, manufacturing, green energy, hard technology, and consumer technology. WuXi Clinical and WuXi MedKey are the operating entities of WuXi AppTec engaged in China-based clinical research services.
Wilson Sonsini Goodrich & Rosati advised WuXi AppTec on the transaction. The Wilson Sonsini team includes:
Wilson Sonsini Goodrich & Rosati advised WuXi AppTec on the transaction. The Wilson Sonsini team includes:
Client Highlights
7.31.25
Wilson Sonsini Advises WuXi AppTec on $980 Million H Shares Placing
On July 31, 2025, WuXi AppTec Co., Ltd. (WuXi AppTec) announced that it has entered into a placing agreement with Morgan Stanley Asia Limited, Citigroup Global Markets Limited, Goldman Sachs (Asia) L.L.C., and The Hongkong and Shanghai Banking Corporation Limited (the Placing Agents), pursuant to which WuXi AppTec has agreed to appoint the Placing Agents and the Placing Agents have severally (but not jointly, nor jointly and severally) agreed to act as the agents of WuXi AppTec and to use their best efforts to procure certain investors to subscribe for a total of 73,800,000 new H Shares at HK$104.27 per placing share to be issued by WuXi AppTec under the general mandate upon the terms and subject to the conditions set out in the placing agreement (the Placing). The Placing is expected to raise $980 million to support WuXi AppTec’s global expansion.
Client Highlights
5.23.25
Wilson Sonsini Advises Underwriters on Mirxes IPO and SEHK Listing
On May 23, 2025, Mirxes Holding Company Limited (Mirxes) successfully listed on the Main Board of the Stock Exchange of Hong Kong (SEHK), raising net proceeds of approximately HK$880.5 million from its IPO (the “Listing”), with market capitalization of approximately HK$6,438.8 million. Wilson Sonsini Goodrich & Rosati acted as Hong Kong and U.S. counsel in the Listing to the underwriting syndicate led by joint sponsors China International Capital Corporation Hong Kong Securities Limited and CCB International Capital Limited.
Press Releases
5.06.25
Wilson Sonsini Bolsters Asia Presence with Corporate Partner Yang Chu
Contact:
Kimberly Brooks
212-453-2881
kbrooks@wsgr.com
Kimberly Brooks
212-453-2881
kbrooks@wsgr.com