WuXi AppTec to raise $500m in convertible bond sale as US restrictions loom

WuXi AppTec to raise $500m in convertible bond sale as US restrictions loom

FILE PHOTO: The logo of Chinese drug research and development group WuXi AppTec is displayed alongside its company website, in this illustration picture taken February 5, 2024. REUTERS/Florence Lo/Illustration/File Photo

China’s WuXi AppTec will raise $500 million in a convertible bond sale, according to a regulatory filing on Tuesday, a month after the U.S. passed rules to restrict business with the firm on national security grounds.