WuXi Biologics' major shareholder Biologics reduced its stake by 3.7%, cashing out over 5.7 billion and is no longer a major shareholder

WuXi Biologics (02269.HK) announced that its major shareholder Biologics Holdings has entered into a block trade agreement with Morgan Stanley to place 150 million shares of the company, accounting for approximately 3.63% of the total issued share capital, at a price of HKD 38.52 per share, representing a discount of 3.75% compared to yesterday's (15th) closing price of HKD 40.02, involving approximately HKD 5.778 billion.

Li Ge, Chairman and Non-Executive Director of WuXi Biologics, controls approximately 19.66% of the issued share capital of Biologics Holdings and 55.03% of the voting rights at the Biologics Holdings shareholders' meeting. After the completion of the placement, Biologics Holdings' shareholding in the company will decrease from approximately 12.12% to 8.49%, and it will no longer be a major shareholder of the company