Proteome Systems Opens Australian IPO

Proteome Systems said last week that it has opened its AU$20 million initial public offering on the Australian Stock Exchange. The offer price gives the company a market capitalization of AU$120 million, Proteome Systems said.

The size of the IPO is significantly less than Proteome Systems had initially hoped for. The company had originally planned to raise AU$45 million, a figure later cut to AU$35 million (See PM 06-25-04).

Patersons Securities is underwriting the offering.

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