Alibaba and Ping An-backed genetic testing services provider Prenetics will hold a reverse merger at a $1.25bn valuation, securing $120m in Pipe financing.
Prenetics, a China-based genetic testing services provider backed by e-commerce group Alibaba and insurance firm Ping An, is set for a reverse merger with special purpose acquisition company Artisan Acquisition Corp.
Prenetics will be valued at approximately $1.25bn through the deal and will take over Artisan’s listing on the Nasdaq Capital Market, which it received through a $399m initial public offering in May this year.
Artisan was founded by Adrian Cheng, CEO of property conglomerate New World Development, and will…
