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Wednesday, 29 Sep 2010 06:49pm EDT
Prima BioMed Limited announced plans to list on the NASDAQ Global Market (NASDAQ) in the United States. Subject to approval by NASDAQ of Prima?s listing application, the Company will have dual listings of its securities on both the Australian Securities Exchange (ASX) and NASDAQ. Post the NASDAQ listing it is anticipated that there will be one NASDAQ share for every 30 Prima ASX-listed shares. The Company advises it is in the process of lodging the requisite 20-F Form with the United States Securities Exchange Commission, and it anticipates a response from the US regulator in 60-90 days. Prima?s proposed NASDAQ listing will be a Level II ADR compliance listing, and is being managed by Bank of New York Mellon and US broking house National Securities Corporation. The aim of the NASDAQ listing is to provide a listed structure that will better meet the needs of both the Company?s Australian and US investor bases, and to provide increased liquidity for Prima BioMed securities.
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