BGT 0.00% 6.1¢ bio-gene technology ltd

On AFR website today.... Doug Rathbone-backed Bio-Gene...

  1. 179 Posts.
    On AFR website today....



    Doug Rathbone-backed Bio-Gene Technology launched its initial public offering on Wednesday, pricing the shares at 20¢ apiece.

    The insecticide company is seeking to raise $7 million for a market capitalisation of $25.3 million.

    Lead manager Henslow is expected to lodge the prospectus on Thursday with the offer slated to close on November 10.

    Bio-Gene operates in the global insecticide market which is valued at about $US31.1 billion, according to a term sheet sent to investors.

    The company's technology platform "has the potential to address insecticide resistance within all these market sectors [crop protection, animal health, consumer applications and public health]," the term sheet said.

    Former Sinochem Australia managing director Richard Jagger is Bio-Gene Technology's chief executive-elect.

    Rathbone, who spent more than 15 years as MD of $2.3 billion agribusiness company Nufam, is an adviser to the board.
 
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