WuXi Biologics plans 3-for-1 stock split

WuXi Biologics (2269) is planning to split its shares in a three-for-one exchange to boost liquidity and attract more investors.

The board lot size for trading in the subdivided shares will remain 500 subdivided shares, it said.

Based on the closing price of HK$191.10 per share last Friday, the theoretical adjusted price would be HK$63.7 apiece and the minimum investment for a board lot would be HK$31,850, compared with HK$95,550, said the company.

The company, with a market capitalization of HK$256.43 billion, expects the subdivision would improve the liquidity in the trading of securities and reduce the trading price of each share. The stock split will be put to a vote at an extraordinary general meeting, it said. Shares of the company fell 1.2 percent to HK$188.80, paring a 3.5 percent gain in the morning.