On October 21, 2024, all the conditions precedent under the subscription agreement dated October 7, 2024, entered into between WuXi AppTec Co., Ltd. (WuXi AppTec), WuXi AppTec (HongKong) Limited (WuXi HK), and Citigroup Global Markets Limited have been fulfilled and the issue of the US$500,000,000 zero coupon guaranteed convertible bonds due 2025 (the Bonds) in an aggregate principal amount of US$500,000,000 was completed. The net proceeds from the subscription of the Bonds, after the deduction of fees, commissions and expenses, will be approximately US$494.4 million, and will be utilized in the following manner: (a) approximately 70 percent will be used for global expansion; (b) approximately 20 percent will be used for refinancing indebtedness; and (c) approximately 10 percent will be used for general corporate purposes. The listing of and permission to deal in the Bonds on The Stock Exchange of Hong Kong Limited will become effective from October 22, 2024.

WuXi AppTec is a leading global provider of R&D and manufacturing-enabling services in the pharmaceutical, biotechnology, and medical device industries. WuXi HK is a wholly-owned subsidiary of WuXi AppTec that is primarily engaged in sales and marketing of products overseas.

The Wilson Sonsini Goodrich & Rosati team acting as the Hong Kong counsel to WuXi AppTec and WuXi HK in this transaction includes Weiheng Chen, Winfield Lau, Billy Yiu, Chun Teng, Giselle Ma, Kelly Cheng, and Kate Lam.

For more information, please see the listing announcement.