Genscript Biotech (HK:1548) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
Genscript Biotech has announced the deconsolidation of its subsidiary, Legend Biotech, following changes to their deposit agreement. This strategic shift means Legend Biotech will now be classified as an associate, with Genscript recognizing its investment using the equity method. The move is expected to result in a one-time tax-free gain for Genscript, reflecting the fair market value of its share in Legend Biotech.
For further insights into HK:1548 stock, check out TipRanks’ Stock Analysis page.
