B · Normal
[Genscript Biotechnology: Plans to spin off Probio and list independently on the Main Board of the Stock Exchange] On September 4, Genscript announced on the Hong Kong Stock Exchange that the company proposed to spin off Probio Technology Limited (Pengbo, an indirect non-wholly owned subsidiary of the company, responsible for the group's contract research, development and production organization services of biologics and advanced therapies) and independently list its shares on the Main Board of the Stock Exchange. Details of the proposed spin-off are yet to be finalized. After the completion of the proposed spin-off, the Company will continue to hold a controlling interest in Fenbo Biotech, which will remain a subsidiary of the Company, and its financial results will continue to be consolidated into the Group's financial statements.
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