Genscript raises HK$524M in IPO

Life sciences technology supplier and services company Genscript Biotech Corp. (HKSE:1548) raised HK$524 million ($67.6 million) through the sale of 400 million shares at HK$1.31 in an IPO underwritten by Haitong and JPMorgan. The price valued the company at HK$2.1 billion ($270.4 million).

Genscript had hoped to sell 400 million shares at HK$1.31-HK$1.68. At the range's midpoint, a sale of that many shares would have raised HK$598 million ($77.1 million) and valued the company at HK$2.4 billion ($308.6 million). ...