Shares of Hong Kong-listed Genscript Biotech plunge 25 per cent after firm says chairman has been placed under ‘residential surveillance’ by Beijing

//Shares of Hong Kong-listed Genscript Biotech plunge 25 per cent after firm says chairman has been placed under ‘residential surveillance’ by Beijing

Shares of Hong Kong-listed Genscript Biotech plunge 25 per cent after firm says chairman has been placed under ‘residential surveillance’ by Beijing

The shares of Hong Kong-listed Chinese gene and cell therapy company Genscript Biotech fell by as much as 25 per cent on Tuesday after it reported that its chairman had been placed under “residential surveillance” by Chinese customs.Zhang Fangliang was placed “under ‘residential surveillance’ and four other employees of the company were detained for questioning” in connection with an investigation by the Customs Anti-Smuggling Department into suspected breaches of import and export regulations,…

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By | 2020-09-22T15:16:52+00:00 September 22nd, 2020|Business|Comments Off on Shares of Hong Kong-listed Genscript Biotech plunge 25 per cent after firm says chairman has been placed under ‘residential surveillance’ by Beijing