ADICON Holdings Limited One of the Top Three ICL Service Providers in China is Successfully Listed on Main Board of SEHK

Jun 30, 2023 15:25 JST

Source: ADICON Holdings Limited

Serving Patients and the General Public with High-quality Testing Services and Being a Trusted and Reliable Partner

HONG KONG, Jun 30, 2023 - (ACN Newswire) - ADICON Holdings Limited ("ADICON" or "Company", stock code: 9860.HK), one of the top three independent clinical laboratory ("ICL") service providers in China in terms of total revenues during the three years ended 31 December 2020, 2021 and 2022, according to Frost & Sullivan, successfully listed and commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited ("SEHK") today with a board lot size of 500 shares.

Morgan Stanley Asia Limited and Jefferies Hong Kong Limited are the Joint Sponsors, Overall Coordinators, Joint Global Coordinators, Joint Bookrunners and Joint Lead Managers.

ADICON has also entered into cornerstone investment agreements with investors including MR Global (HK) Limited (Mindray), Snibe Diagnostic (Hong Kong) Company Limited, Fosun Diagnostics (Shanghai) Co., Ltd., Timestar Elite Limited and Corelink. Based on the final offer price of HK$12.32 per Offer Share, according to the cornerstone investment agreements, the cornerstone investors have subscribed for a total of 23.647 million shares, accounting for approximately 3.27% of the company's issued share capital immediately after the global offering is completed.

Ms. YANG Ling, Chairwoman and Non-Executive Director of ADICON Holdings Limited, and Managing Director at Carlyle Asia, commented: "ADICON is one of the top three ICL service providers in China and an industry pioneer. Since Carlyle's investment in ADICON in 2018, the Company has transformed from a founder-led business into a corporation that is led by a board of directors and an experienced management team. The successful Hong Kong listing of ADICON today is a recognition of the Company's achievements and I would like to express my sincere gratitude for the trust from the founders, Mr. Lin Jixun and Mr. Lin Feng, and thank and congratulate the management team and everyone at ADICON. We believe the ICL market in China is still in a nascent stage and there remains significant room for the industry to grow. Carlyle will continue to work with the management team and support the Company as it seeks to embark on its next phase of growth."

About ADICON Holdings Limited

ADICON Holdings Limited ("ADICON" or "Company", stock code: 9860.HK) is one of the top three independent clinical laboratory ("ICL") service providers in China in terms of total revenues during the three years ended 31 December 2020, 2021 and 2022, according to Frost & Sullivan. The Company offers comprehensive and best-in-class testing services primarily to hospitals and health check centers through an integrated network of 33 self-operated laboratories across China, as of June 9, 2023. Leveraging its strong R&D and quality control capabilities, ADICON offers comprehensive, high-quality and advanced test portfolios. As of December 31, 2022, ADICON offers a competitive and comprehensive catalog of over 4,000 medical diagnostic tests, including over 1,700 routine tests and over 2,300 esoteric tests, allowing ADICON to provide testing services to over 19,000 customers, ranging from medical institutions, health check centers, to biopharmaceutical companies and CROs. As a market leader in providing ICL services in China, ADICON is committed to continuously serving patients and the general public with its high-quality testing services and becoming a trusted and reliable partner for medical professionals and the general public.

This press release is issued by Porda Havas International Finance Communications Group for and on behalf of ADICON Holdings Limited For further information, please contact:

Porda Havas International Finance Communications Group
Telephone: 852 3150 6788
Email: pearl.hk@pordahavas.com

Source: ADICON Holdings Limited
Sectors: Healthcare & Pharm, Clinical Trials