Legend Biotech, a non-wholly owned subsidiary of Hong Kong-listed GenScript, is planning to raise up to US$250m in its follow-on offering. The company last raised cash in Dec 2021 in a similar sized deal, which ended up doing very well after a sharp share price correction. In this note, we will talk about the deal dynamics and run the deal through our ECM framework.
Full Article at IIR has reaffirmed its Recommended rating for PIA after undertaking a review post the appointment of a new Portfolio Manager, Harding Loevner. The full report can be found on the IIR website. On 26 July 2021, Pengana International Equities Limited (PIA) announced a fully franked dividend of 1.35 cents per share for the June quarter. This represents an 8% increase on the March quarter dividend and takes the total dividends declared for FY21 of 5.1 cents per share, fully franked....
Established in 2002, GenScript is the no. 1 gene synthesis player in the world with a global market share of 30%. Leveraging on its proprietary gene synthesis and other technology, GenScript focuses on four business segments, ie life-science, CDMO services, synthetic biology and the CGT business (Legend). We expect the company to embrace robust business expansion in all of its four segments with the support of the capital raised from Hillhouse Capital.
KEY HIGHLIGHTS Economics Money Supply May data is market neutral. Sector Automobile Weekly: Channel checks attribute the sales slowdown to supply bottleneck. Maintain MARKET WEIGHT. Top picks: Zhongsheng, Yongda, BYD and CATL. Update Genscript Biotech Corporation (1548 HK/NOT RATED/HK$33.35) Raise capital for a strong take-off. TRADERS’ CORNER COSCO Shipping (1919 HK): Trading Buy Range: HK$19.64-19.66 Xinyi Solar (968 HK): Trading Buy Range: HK$14.56-14.58
Legend Biotech, a subsidiary of Hong Kong-listed GenScript, started book building to raise up to USD 368 million via an IPO. The company has a strong focus on CAR-T therapy. Its LCAR-B38M/JNJ-4528 is one of the most advanced CAR-T therapy targeting BCMA for the r/r MM indication. In our previous note, we discussed that its clinical results from Phase II have been very positive. The company's collaboration with Janssen is also a strong selling point that provides evidence of the company's R&D ca...
Legend Biotech, a subsidiary of Hong Kong-listed GenScript, is planning to raise up to USD 300 million via an IPO. The company has a strong focus on CAR-T therapy. Its LCAR-B38M/JNJ-4528 is one of the most advanced CAR-T therapy targeting BCMA for the r/r MM indication. In our previous note, we discussed that its clinical results from Phase II have been very positive. The company's collaboration with Janssen is also a strong selling point that provides evidence of the company's R&D capability a...
Legend Biotech, a subsidiary of Hong Kong-listed GenScript, is planning to raise up to USD 300 million via an IPO. The company has a strong focus on CAR-T therapy. Its LCAR-B38M/JNJ-4528 is one of the most advanced CAR-T therapy targeting BCMA for the r/r MM indication. We think its clinical results from Phase II have been very positive. The company's collaboration with Jassen is also a strong selling point that provides evidence of the company's R&D capability and the prospect of the company'...
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