WuXi Biologics (Cayman) Inc. (SEHK:2269) commences share repurchases on September 30, 2022, under the program mandated by the shareholders in the Annual General Meeting held on June 10, 2022. As per the mandate, the company is authorized to repurchase up to 425,926,547 shares, representing 10% of its issued share capital. The repurchases will lead to an enhancement of the net asset value per share and/or earnings per share for the company. The repurchases will be made out of the funds legally available for such purpose in accordance with its memorandum of association and Bye-laws and the applicable laws and regulations of Cayman Islands. The authority shall expire at the earliest of the next Annual General Meeting, the date on which the next Annual General Meeting is required to be held or the date on which the authority is varied or revoked in a General Meeting. As of June 10, 2022, the company had 4,259,265,470 shares in issue.

On September 23, 2022, the company announced a share repurchase program. Under the program, the company will repurchase $300 million worth of shares. The company will subsequently cancel the bought shares. The purpose of the program is to enhance the value of the shares and improve return to the shareholders.