Mourant advises Prenetics as it becomes the first Hong Kong unicorn to list on Nasdaq

Mourant, a law firm-led professional services business, acted as Cayman legal counsel to Prenetics Group Limited as they became the first Hong Kong unicorn to list on Nasdaq.

Prenetics, a global leader in genomic and diagnostic testing, listed on Nasdaq on 18 May with an enterprise value of US$1.25 billion.

It achieved its Nasdaq listing via a de-SPAC transaction with Artisan Acquisition Corp, a special purpose acquisition company founded by entrepreneur Adrian Cheng.

The Mourant team was led by Hong Kong Corporate and Funds Partner Jessica Lee and Hong Kong Managing Partner Paul Christopher with assistance from Senior Associate Jesslyn Leung and Senior Client Services Manager Cristal Ho.

They worked closely with Global Practice Leader Alex Last, Associates Joseph Barker-Willis and Marcus Hallan, and Associate Director for Governance Services Brad Conolly who are all based in the Cayman Islands.

Nadia Wong, Head of Legal at Prenetics, said: “We are truly grateful for the support we received from Jessica and the Mourant team throughout this transaction. In spite of all the complexities and time pressures, the Mourant team consistently delivered and gave us full confidence with their professional and competent advice.” 

Jessica Lee commented: "We're delighted to have advised Prenetics on this landmark listing that will provide them with tremendous opportunities for future development and growth.

As Hong Kong's first unicorn to be publicly listed in any market and a company at the forefront of Covid-19 testing and the decentralisation of healthcare globally at a time when the world needs it most, we look forward to seeing the company go from strength to strength as one of the leading diagnostics and genetic testing companies in the world."

Mourant is highly regarded as one of the most dynamic offshore legal practices in Asia, having been the fastest growing offshore law firm in the region since the launch of its Hong Kong office ten years ago in 2012.