Adicon Holdings, a diagnostic laboratory (lab) company based in China, plans to raise $52.29 million through a global offering by issuing 33.2 million shares priced at $1.57 each. The offering will allocate 10 percent of the shares to Hong Kong-based investors, with the remainder offered internationally. The shares are expected to start trading on stock exchanges on June 30. Adicon, headquartered in Hangzhou, operates twenty-four fully-owned diagnostic laboratories in China, providing diagnostic testing outsourcing services to over ten thousand active customers across twenty-eight provinces.
Summary: Adicon Holdings is a Chinese diagnostic lab company that operates numerous fully-owned diagnostic laboratories in China. The company aims to raise $52.29 million through a global offering, with the shares being offered to both local and international investors. Adicon provides diagnostic testing outsourcing services to a wide range of customers across twenty-eight provinces in China.