The latest update is out from Genscript Biotech ( (HK:1548) ).
Genscript Biotech Corporation announced a significant transaction involving the transfer of 300,000,000 Series A Preferred Shares of its subsidiary, Probio Cayman, for approximately US$225.1 million. This transaction will increase Genscript’s equity interest in Probio Cayman from 71.72% to 85.09%, enhancing its control over the subsidiary. The deal, approved by the Board, is considered a connected transaction but is exempt from certain regulatory requirements, reflecting its strategic importance for Genscript’s market positioning and operational control.
More about Genscript Biotech
Genscript Biotech Corporation is a company incorporated in the Cayman Islands, operating within the biotechnology industry. It is primarily involved in the development and commercialization of biotech products and services, with a focus on genetic and cellular technologies.
YTD Price Performance: 2.36%
Average Trading Volume: 2,377
Technical Sentiment Signal: Buy
Current Market Cap: $3.08B
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