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Fluorotechnics Raises Nearly $5M in IPO

NEW YORK (GenomeWeb News) – Fluorotechnics said today that it has raised nearly AUS$8 million (US$4.95 million) through an initial public offering on the Australian Stock Exchange.
The Sydney-based firm said the offering was supported by institutional investors from Asia, Australia, and Europe, in addition to professional and retail investors.
Fluorotechnics said that it would list by Oct. 31 on the exchange with over 24 million shares and a market capitalization of more than AUS$24 million based on the offering price of AUS$1 per share.
Last month, when the firm filed its IPO, CEO Duncan Veal said that the offering would “allow Fluorotechnics to ramp up its production capability to meet the significant unmet demand for its proteomics products.”

The Scan

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