Hong Kong unicorn bets on positive Covid results

Prenetics Global

16/09/2021 05:04

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Robyn Mak
    HONG KONG, Sept 16 (Reuters Breakingviews) - Biotech upstart
Prenetics is set to go public in a $1.7 bln merger with a
blank-cheque firm. Demand for virus test kits at airports and
homes has boosted sales, but that is unlikely to last. Growth
will depend on new technologies and habits in a post-pandemic
world.
    Full view will be published shortly.
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    CONTEXT NEWS
    - Hong Kong biotech company Prenetics will go public by
merging with Artisan Acquisition, a special-purpose acquisition
company, the two said in a statement on Sept. 16. The deal
values the combined company's equity at $1.7 billion and is
expected to close in the fourth quarter of 2021 or the first
quarter of 2022.
    - Prenetics will be "the first unicorn from Hong Kong to be
publicly listed in any market", according to the two companies.

    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Joint announcement    https://uploads-ssl.webflow.com/6120c47923709eb2174daa08/61422b254a18d507db3f8b95_Prenetics%20Artisan%20Press%20Release_Final916.pdf
Hong Kong biotech company Prenetics to go public via $1.7 bln
SPAC deal     urn:newsml:reuters.com:*:nL1N2QI047
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by Antony Currie and Sharon Lam)
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