Genera's Upcoming IPO Oversubscribed

May 21, 2008

NEW YORK (GenomeWeb News) – Australian molecular diagnostics developer Genera Biosystems said today that its upcoming initial public offering has closed oversubscribed, with demand for shares outweighing the number of shares offered.

The company expects its stock will begin trading on the Australian Stock Exchange under the ticker symbol GBI during the first week of June. Genera said it expects its market capitalization to be around AU $25 million ($24.1 million) when it begins trading.

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