Genera Biosystems Limited IPO closes oversubscribed
Genera Biosystems today announced that its IPO offer, managed by Domain Capital in Melbourne, had closed oversubscribed, and with ASX requirements relating to shareholder spread satisfied. The company expects that its stock will commence trading on the ASX during the week of June 2nd 2008, under the ticker symbol GBI. Successful applicants for stock are expected to receive details of their holding from Computershare during the next two weeks. The market capitalization of Genera Biosystems will be approximately $25m upon listing.
Chairman Fernando Careri said that closing the IPO oversubscribed was a testament to the strength of Genera’s business case. “This is an excellent outcome for the company, and will allow us to pursue our business plan with vigour. The next two years will be an exciting time for the company, as we progress towards full commercialization of our PapType™ HPV diagnostic, and other tests”.
Genera Biosystems develops and manufactures molecular diagnostic tests, used by pathology laboratories to identify infectious diseases. The company’s first test, PapType is used to identify human papillomavirus (HPV – the virus responsible for most cases of cervical cancer) in cervical smear specimens. The company also has a test for other sexually transmitted diseases at an advanced stage of pre-clinical development.
Contact: Allen Bollands +61 3 9345 2127 ENDS
GBI Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
