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Dual Listings Sought

Oxford Nanopore Technologies is looking into dual listings in London and Hong Kong within the next 18 months, the South China Morning Post reports.

CEO Gordon Sanghera tells the paper that he met with officials from Hong Kong Exchange and Clearing to learn more about whether the company could be listed there following revisions to the stock exchange's rules. The Post notes that the Hong Kong stock exchange has recently made it possible for biotech firms without a profit or revenue record to list. Last week, Oxford Nanopore announced that its revenues tripled in 2017 and that its net loss decreased from 2016, as GenomeWeb reported.

The Post adds that Oxford Nanopore is aiming for a listing on the London exchange by late 2019 or early 2020.

Sanghera says Oxford Nanopore is interested in a dual listing as it predicts that China will become its largest market within the next six months to 12 months. Currently, the Post says China makes up 10 percent to 15 percent of the firm's sales, behind North America and Europe. He also says Oxford Nanopore may do "some degree of" manufacturing in China, which would enable its products to go through faster regulatory approval.

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