(Yicai Global) Sept 25 -- Swiss investment bank UBS has led a group of investors in the latest CNY6.5 billion (USD951.9 million) private placement of China's WuXi AppTec, which counts the world's top 20 pharmaceutical giants as its clients.

Six foreign institutions snatched more than half of the total tally, while UBS spent CNY1.5 billion, the Shanghai-based firm said in a statement yesterday. The price was CNY104.13 (USD15.30) per share, which represents a 7.5 percent premium over the Shanghai-listed shares' closing price yesterday.

The other five investors were Merrill Lynch which allocated CNY918 million (USD134.5 million), while the figure for Macquarie Bank was CNY405 million, for Deutsche Bank CNY273 million, and for Hongkong and Shanghai Banking CNY205 million. Credit Suisse Hong Kong put down CNY190 million.

WuXi Apptec announced its financing plan in late July, after which the stock price has been under selling pressures. At the same time, it revealed its intentions to raise HKD7.29 billion (USD940.6 million) by selling its Hong Kong-listed shares to six independent investors. That deal closed on Aug. 5.

The pharmaceutical company will use the funds mainly to expand the capacity of its contract development and manufacturing organization and contract manufacturing organization operations, as well as to finance mergers and acquisitions, repay bank loans, and supplement its working capital, according to the firm's statement published in July.

WuXi AppTec, which made 60 percent of its revenue in the US last year, has added 600 new clients over the first half, according to its earnings reports. Over the six-month period, it had 4,000 customers from more than 30 countries around the world. 

The Chinese medical firm's stock price [SHA: 603259] rose 0.6 percent to CNY97.40 this morning.

Editor: Emmi Laine