20 November 2023 | Monday | News
Image Source : Public Domain
WuXi XDC issued a total of 178,446,000 shares under the global offering at an offer price of HK$20.60 per share (being the high-end of the indicative offer price range). The company is expected to raise the gross proceeds in the amount of approximately HK$4,071 million assuming the over-allotment option in respect of 19,158,500 additional shares is fully exercised.
WuXi XDC intends to use the net proceeds to enhance its capabilities and capacity worldwide, including facilities construction in Singapore and expanding manufacturing capacity in China, pursuing strategic partnerships and investment and acquisition opportunities, as well as advancing its technology platforms.
Dr. Chris Chen, CEO of WuXi Biologics and Chairman of WuXi XDC, said: "The successful listing of WuXi XDC on the Hong Kong Stock Exchange marks another important milestone for the company. Having witnessed firsthand the evolution of the company, from identifying unmet needs in the bioconjugate industry to establishing WuXi XDC as a trusted partner in this sector, I am excited for what the future holds. We are grateful for the trust and support of our global investors, customers, and partners as we continue to grow and evolve."
Dr. Jimmy Li, CEO of WuXi XDC, said: "We are excited to embark on WuXi XDC's next chapter. With our vision – linking innovation to health – we have built an industry-leading open and integrated technology platform with end-to-end bioconjugation capabilities. I would like to thank all the staff of WuXi XDC for their unremitting efforts. With this new start, we strive to accelerate our growth in capabilities and capacity, strengthen our position in the sector, and continue to advance our efforts to enable innovation and benefit patients worldwide."