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Genscript Biotech to Raise HK$2.3 Billion via Share Placement

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Genscript Biotech (HKG:1548) agreed to place 77.1 million new shares at HK$30.50 each, with net proceeds expected at about HK$2.33 billion, according to a Friday Hong Kong bourse filing.

The placing price represents a 4.7% discount to the Sept. 10 closing price of HK$32.00.

The shares will account for about 3.5% of the company's existing issued share capital.

Net proceeds are earmarked for expanding capacity and infrastructure for its AI-driven drug discovery platform.

A portion will be used for research, development, and global business development, with the remainder allocated to general corporate purposes and working capital.

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