(Reuters) -Chinese diagnostic lab company Adicon Holdings Ltd said on Monday it would raise HK$408.9 million ($52.29 million) in its Hong Kong listing through a global offering by issuing 33.2 million shares.
The shares will be priced at HK$12.32, the company said.
The global offering will comprise about 3.3 million or 10% shares to be offered to Hong Kong-based investors, while the rest is offered internationally.
Adicon’s five cornerstone investors will take $37.17 million worth of shares in the initial public offering (IPO). Global investment firm Carlyle Group is Adicon’s top shareholder which invested in the diagnostic lab in 2018.
Dealing in these shares on the stock exchanges is expected to commence from June 30.
Based in the Southeast Chinese city of Hangzhou, Adicon and its controlled entities operate 24 fully-owned diagnostic laboratories in China, offering diagnostic testing outsourcing services to more than 10,000 active customers in 28 provinces.
($1 = 7.8202 Hong Kong dollars)
(Reporting by Jaskiran Singh in Bengaluru; editing by Diane Craft and Rashmi Aich)