Zhitong Financial App News, Wuxi Apptec (02359) announced that on May 16, 2022, the board of directors approved the issuance of H shares under the general mandate granted by the 2021 AGM, under which the company will issue no more than 78.4343 million new H shares. The proposed placement of H shares is proposed to be no less than 6.

According to the announcement, about 70 per cent of the net funds raised for the proposed H-share issue will be used to expand the group's overseas business, about 15 per cent will be used to repay bank loans and other loans, and the rest will be used to supplement the group's operating capital.