HK Stock Market Move | GENSCRIPT BIO (01548) rose more than 5% in morning trading; JP Morgan believes the market remains highly interested in GenScript's AIDD business.

GENSCRIPT BIO (01548) rose more than 5% in morning trading. As of press time, it was up 5.44% at HK$34.12, with a turnover of HK$745 million. On the news front, GENSCRIPT BIO recently announced a proposed placement of 77.126 million shares at a 4.7% discount, with net proceeds of approximately HK$2.33 billion. Of this, about 70% will be used to expand the production capacity and infrastructure of the group's AIDD platform, including automated high-throughput wet laboratory facilities, related equipment, and laboratory upgrades; 20% will be used for R&D related to the AIDD platform, digital workflow integration, and global business expansion; and 10% will be used for general corporate purposes and working capital. JP Morgan stated that GenScript's share price rose against the market after the placement, and it believes the market remains highly interested in GenScript's AIDD business. The company announced the share placement before market open last Friday, which will provide the necessary funding to expand AIDD-related wet laboratory capacity and accelerate related R&D and digitalization. Therefore, it maintains a positive view and suggests that investors may regard recent share price weakness as an opportunity to increase holdings.