FAST NEWS: WuXi Biologics Announces $300 Million Share Buyback

The latest: Contract drugs services provider WuXi Biologics (Cayman) Inc. (2269.HK) announced on Monday its board of directors has approved a plan to buy back up to $300 million of the company’s shares in the open market. Looking up: The company believes the proposed buyback and subsequent cancellation of repurchased shares will enhance the value of remaining shares, thereby improving shareholder returns. The buyback will also reduce a potentially dilutive effect on the company’s shareholdings from various employee equity incentive schemes. Take Note: WuXi Biologics’ cash and cash equivalents were valued…

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Mixue Sips Success at the Bottom of China’s Premium Tea Market

The fast-growing chain whose bubble and milk teas typically sell for less than $1.50 has filed for a Shenzhen IPO that could value it at nearly $10 billion Key Takeaways: Low-end premium tea chain Mixue has applied for a Shenzhen IPO to raise 6.5 billion yuan for new product development and expansion The company uses a franchise model that helps it control costs, giving it a higher margins than its rivals By Trevor Mo Frugality is the new cool these days for Chinese consumers who are tightening their belts as…

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TikTok-ing Off High Valuation, ByteDance Offers to Buy Out Early Investors

The TikTok parent will buy back up to $3 billion of its own shares at a valuation of about $300 billion, even as China’s second largest internet company also faces major geopolitical headwinds Key Takeaways: Data security concerns have stalled an overseas IPO plan by TikTok parent ByteDance, prompting it to offer to buy out shares from some early investors The company is valued higher than social media giants Alphabet, Meta and Tencent on a price-to-sales (P/S) basis By Ken Lo What’s the best way to quiet noisy shareholders clamoring…

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