Jack Ma-backed Prenetics plots IPO after COVID-19 test success

Hong Kong startup enlists New World Development CEO as investor

An employee handles a sample at a laboratory of biotechnology start-up Prenetics in Hong Kong. © AFP/Jiji

MICHELLE CHAN and NARAYANAN SOMASUDARAM, Nikkei staff writers

February 26, 2021 14:38 JST

Updated on February 26, 2021 20:00 JST

HONG KONG -- Prenetics, the Hong Kong-based COVID-19 test provider that helped English football's Premier League resume matches, is planning an initial public offering as early as this year and is on track to close a $100 million pre-IPO funding round in the first quarter, according to people familiar with the discussions.