HK-listed GenScript Biotech drops on discounted share sale

Genscript Biotech

11/09/2026 04:39

** Shares of GenScript Biotech Corp 1548.HK drop about 4% to HK$30.8, on track for their biggest one-day pct drop since September 4
** Company plans sale of 77.13 million shares in a share placement, or 3.38% of the enlarged share capital, raising HK$2.35 billion ($299.69 million) for expansion of capacity and infrastructure for its AI-driven drug discovery platform
** Shares will be issued at HK$30.50 apiece, representing a 4.7% discount to Thursday's close of HK$32 each 
** YTD, stock up 155.1%, Hang Seng Biotech Index .HSBIO up 4%
     
     
     
     
     
($1 = 7.8415 Hong Kong dollars)

(Reporting by Donny Kwok)
((donny.kwok@thomsonreuters.com))