HK unicorn marks a Nasdaq milestone

Prenetics, a genetic diagnostic testing company, listed on Nasdaq last night, setting a milestone for a Hong Kong startup.

Adrian Cheng Chi-kong expressed his delight at Prenetics becoming the first Hong Kong unicorn to be listed in the United States.

He believes that "it proves that Hong Kong has many young talents and start-ups, as well as a good business environment."

In April this year, Prenetics merged with Artisan Acquisition Corp, a special purpose acquisition company privately held by New World chief executive Adrian Cheng and also listed in the United States.

After listing in the United States, Prenetics will receive nearly US$460 million (HK$3.58 billion) to develop new products such as non-invasive colorectal cancer screening tests and to build future development.