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WUXI BIO Opens 3.6% Lower as Major Shareholder Sells 82.94M Shrs at 5% Discount
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WUXI BIO (02269.HK) opened 3.57% lower at $27 today (16th), with 84.0969 million shares traded, involving $2.238 billion. Biologics Holdings, controlled by Chairman and Non-executive Director Ge Li, reduced its stake in WUXI BIO. Biologics Holdings entered into a Block Trade Agreement with the Placement Agent Morgan Stanley on June 14 to place 82.94 million existing shares of the Company, representing approximately 2.04% of the Company's issued share capital, at a price of $26.6 per share, representing a 5% discount to its closing price of $28 last Friday (13th). The transaction is expected to cash in $2.206 billion. Upon completion of the Placing, Biologics Holdings' stake in WUXI BIO will decrease from approximately 14.36% to 12.32%, remaining a major shareholder of the company. AAStocks Financial News Website: www.aastocks.com |
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