GenScript Biotech Plans $300 Million Share Placement

GenScript Biotech (1548) plans to raise about $300 million through a top-up share placement, according to Ming Pao. Placement price is set at HK$30.08 to HK$30.5 per share, representing a discount of about 4.7% to 6% to the closing price of HK$32. The placed shares will be subject to a 90-day lock-up period.