BUZZ-Genscript jumps on expected gains from Legend Biotech deconsolidation

Reuters10-22

** Shares of life sciences research services group Genscript Biotech jump 13.7% to HK$13.42, on track for the biggest one-day pct rise since Sept. 27

** Stock hits highest level since Oct 9; second biggest pct gainer in healthcare index , which rises 1.1%

** Co says board has resolved to deconsolidate Legend Biotech and its units, and will reclassify Legend as an associate

** Genscript expects significant amount of gain to be recognised for year ending Dec. 2024 after deconsolidation, due to large gap between the market value of Legend's shares and carrying amount of its assets and liabilities

** Hang Seng Commerce & Industry Index adds 0.8% and Hang Seng Index gains 0.5%

** Genscript stock down 33.4% YTD

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))

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