On September 11, GENSCRIPT BIO fell 3.13% in regular trading, trading at HK$33.3 per share, with turnover of HK$367 million. The decline was triggered by the company's announcement of a discounted share placement to raise fresh capital.

GENSCRIPT BIO disclosed that it has entered into a placing agreement with Citigroup Global Markets Limited and J.P. Morgan Securities Limited to place 77,126,000 new shares at HK$30.50 per share. The placing price represents a discount of approximately 4.7% to the previous closing price of HK$32.00 and approximately 6.3% to the five-day average closing price of HK$32.56. Assuming full placement, gross proceeds are expected to be approximately HK$2.352 billion, with net proceeds of approximately HK$2.327 billion after deducting commissions and expenses, translating to an estimated net issue price of approximately HK$30.17 per share. Major shareholder GenScript Corporation's stake will be diluted from 36.32% to 35.09%.

The placement comes amid ongoing market volatility following the company's earlier announcement to spin off its subsidiary ProBio Technology for a separate listing on the HKEX main board, and after the company reported strong first-half results with revenue up 27.3% year-on-year and adjusted net profit surging 203.3%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)