Zhejiang Orient Gene Biotech to Set Up Philippine Subsidiary for $1.2 Million

Zhejiang Orient Gene Biotech (SHA:688298), through subsidiary Healgen International, will invest $1.2 million for the establishment of a subsidiary in the Philippines, according to a Thursday disclosure on the Shanghai Stock Exchange.

The subsidiary named Healgen Scientific will have a registered capital of 20 million Philippine pesos and will wholesale medical equipment, the Chinese biotechnology company said.

Shares of the company rose more than 1% in recent trade.

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