WuXi XDC faced significant shareholder sell-off, with the stock price dropping nearly 7% at one point
WuXi XDC (2268) shareholder Huanquan Pharmaceutical Hong Kong Investment Co., Ltd. significantly reduced its holdings by 50.8 million shares, involving an investment of HKD 2.178 billion, at a price of HKD 42.88 per share, a discount of 6.78% compared to the previous closing price. Affected by this news, WuXi XDC's stock price once fell nearly 7%, reaching a low of HKD 42.85, currently reported at HKD 44.5, a decline of 3.3%. Its related companies, WuXi AppTec (2359) and WuXi Biologics (2269), fell by 0.4% and 0.3%, respectively
WuXi XDC experiences significant shareholder sell-off, stock price drops nearly 7%
According to Hong Kong Stock Exchange data, WuXi XDC (2268) had a large transaction this morning involving HKD 2.178 billion or 50.8 million shares, priced at HKD 42.88 per share, a discount of 6.78% compared to the previous closing price of HKD 46. As a result of the news, WuXi XDC's stock price fell by 6.84% to HKD 42.85, before narrowing its decline; it is currently reported at HKD 44.5, down 3.3%. Its affiliates, WuXi AppTec (2359) and WuXi Biologics (2269), fell by 0.4% and 0.3%, respectively.
According to Bloomberg's report citing trading terms, WuXi XDC's shareholder, WuXi PharmaTech Hong Kong Investment Co., Ltd., has expanded the scale of the sell-off to 50.8 million shares, priced at HKD 42.88 per share, involving HKD 2.178 billion. The relevant shares account for 4.2% of the total issued shares, and the seller has a lock-up period of 90 days
